Nah, Macbeth is pretty psychological in my opinion. Even though there's a lot of blood and killing, everything except Act 2 is pretty much entirely focused on Macbeth and the consequences of his actions on the state of his mind. Between the other Four Great Tragedies, Othello takes a lot longer to "get going" (ie. Act 1+2 are pretty much just setup), Hamlet is relatively dry at points (early Act Four, a lot of the political bits) and King Lear can be a bit longwinded and melodramatic at times. Macbeth is certainly up there, even if it doesn't surpass Hamlet and Lear. =)
If you want a crap tragedy, check out Antony and Cleopatra or Titus Andronicus. The former is impossible to follow for half of the play, and the latter is just gratuitous gore.