How bad is it? Rock-bottom martial arts film.
Should you see it? No.
I'm not a fan of PM Entertainment, which made a lot of bad action films; this is probably the most enjoyable of their films. An actor you've never heard of plays a character named "Fist," a debt collector who specializes in a pub-drunk style of martial arts. He gets in the middle of a mob war and fights his way out. No plot happens for the first hour, but there are a lot of fights, badly choreographed and sometimes amusing (a slippery floor makes one scene silly). Abe Vigoda, Bubba Smith and Harry Guardino appear - they're pointed out on the cover of the DVD - but they're not the stars.