Well, I just saw this the other day on MST3K: Deathstalker and the Warriors from Hell. It's the third installment of the Deathstalker series, and features the third actor to take the lead part.
Everyone has 1988 haircuts. It was shot in Mexico to save money. The main character is actually called "Deathstalker" and he's a cocky to the point of wanting to puke. He starts with some kind of British/Irish/Scottish/? accent and it's completely gone by halfway through the movie.
The sword fights consist of placing cardboard swords into various positions, obviously scripted and executed at about 60% speed. The plot is missing. The resolution is unapparent, in spite of everyone acting like the something or other got solved. The main evil woman is simply standing there with the other heros at the end. I guess evil women just convert to good when their main squeeze finally gets shot by the 10 year old from the opening scene that shows up at the end of the film.
I thought a lot about this movie. One of my clues that this is indeed the worst movie of all time is this quote from MST3K, by Mike in an uncharacteristically subdued voice, "You know, this is the most ambitiously bad movie we have ever done."
He did not say it in character. He said it as the real life person that he is. He said it to the crew, not the audience. I'm convinced. It was a remarkable moment to hear him break character and simply make a statement like that.