Okay, so the only reason I ever saw this movie to begin with was because I found the used DVD (the Black Belt Theatre version) on sale for $2 in a local video store in the middle of nowhere. I honestly expected it to stink to high heaven, and only bought it for the funny title. To my surprise, I really enjoyed it! I'm pretty confused at most of the reviews I see on the web for this movie calling it a "horror" film, because this is a comedy pure and simple. Everything is so ridiculous that it's absolutely hilarious, from the "wizard's" goofy dancing whenever he casts "spells," to the scene where they're out "shopping" for corpses, to the protagonist's complete indifference as to whether his obnoxious father lives or dies. The dub is absolutely hilarious (I've seen probably over a hundred dubbed movies/shows and this is, no kidding, one of the most effective ones I've ever seen, though it's obviously much easier to dub a goofy comedy than a drama), and it makes excellent use of music at hilarious times. I also have to give a hearty thanks to the editor for the Americanized version, who clearly edited out at least half an hour of what was clearly dull story, leaving absolutely nothing but kung fu and comedy scenes.
If you have the capacity to enjoy goofy, ridiculous movies and slapstick humor, I fully recommend this. The closest thing I can compare it to is a super low-budget version of Kung Fu Hustle. I only wish the DVD transfer were better (it's watchable, but the scenes in dark places can be hard to make out).