I literally rewatched it last night after this discussion.
It's really not that bad of a movie overall.
1. The soundtrack is amazing,
2. the location shooting is gorgeous
3. mofo lead, in his only lead role ever, did all his own stunts to the point of injury. Worth it
4. While the plot is pretty crap, there's some really fun dialogue and good acting.
5. Witness Robbie Coltrane (whose lines were overdubbed by someone else) and Liam Neeson in one of their earliest appearances. two supporting characters who are probably the only actors you'll recognize, hahaha
6. There are some freaky cool original ideas in the sfx and in the fantasy world they came up with. ironic considering how derivative the script was. Like the sfx for Ergo's transformations, the Fire Mares, everything about the Slayers
All in all, I was that kid watching entranced in the theater again. My cynical adult side was beaten well into submission. 10/10
... but watching it over and over again hundreds of times? no fuckin way