As a native Russian speaker I prefer the literal translation 'Demons' to The Possesed. But that's a great, great novel indeed. But again 'Fathers and Children' (another direct translation) predates it by almost a decade (and evern Notes from Underground by a few years.)
What is so interesting is that the ten year difference between "The Demons" and "Fathers..." actually seems like it could have been fifty years where the styles and quality are concerned. At present I am re-reading The Idiot.