I just watched this movie for the first time since the mid-late 90's. For a movie based off an SNL skit, I thought it was pretty okay. Some gags were really funny (such as Robert Patrick's cameo and Garth making a man out of doughnuts and "torturing" it), while some others fell flat. This movie would have gotten a 4 had it not been for the corny ending.
If you can find this movie on the cheap, you won't be wasting your money.