How bad is it? It's extremely cheap, but surprisingly good.
Should you see it? If you like splatter films, this one's worth seeking.
Every five years, in the fifth month of the year, for five consecutive days, a hippie (or someone disguised in beads and bell-bottoms) kills. The detective investigating starts to think that his superior, a Vietnam vet with a past, might be involved. The film is standard splatter, with decapitations and stabbings, and the gore is done adequately. The acting, almost all done by members of the director's family (Wally, Roy, Linda, Sophie, Wally Sr. and "Mom" Koz), is variable, but not off-putting. It's one of the rare cases of someone saying "I could make a better movie than that!" and then going out and doing just that.