A few thoughts: From the wrong perspective, this movie could be seen a something of a disaster. The acting is mostly awful, the writing isn't much better, and certain special effects sequences wouldn't be out of place in a movie over a decade older than this, but with all of its quirks and poor execution there is a charm to this movie that can't be matched by most special effects extravaganzas that are perhaps pulled off "better" than this. The characters are memorable, the sets look pretty awesome, and even in its failures you can tell there was actual effort to make something great here. Even when it falls short it winds up at worst laughable, and when it succeeds it's pretty fun and exciting. This is an excellent movie to watch with friends who want to enjoy themselves but not have to force themselves to sit through something as drainingly inept as The Room or Troll 2. It's just good enough to be fun, and bad enough to be even better. Also, it has Max Von Sydow hamming it up -- which is awesome.
Who would I recommend it to? As previously mentioned, this would be a good one to put on for a bad movie night. It should be able to entertain even cynical viewers who want a fun story and a few good laughs.