How bad is it? It's typical shot-on-video slasher, 1980's style, done late.
Should you see it? I'd say not.
Full Moon Entertainment has way too many films on this blog. This is the first time they tried a slasher film and it's pretty good for them, pretty good for any shot-on-video slasher, but terrible for anyone not looking solely for campy gore. Best scene: there's a beheading with blood spewing like a geyser, which borders on funny. The plot has students in the Alps (obviously California) and one discovers a cave with Roman artifacts; he takes the helmet off a corpse and dons it - who wouldn't? - and gets possessed by a gladiator's spirit that has him hunting down his friends for the rest of the film.