For the (surprising) number of people who somehow missed this cult schlock classic, let me add my recommendation to fix that. It's one of the best bad fantasy movies out there, and Jack Palance is really at his scenery-chewing finest here. Makes Jeremy Irons in teh D&D movie look restrained by comparison. There appears to be a pretty good upload of the film on youtube if you've got an hour and a half to spare:
Sobriety is option for viewing, of course.