I think the movie's not bad, and MST3K should not have left it out. The comments MST3K does are not THAT funny and are disturbing the movie; I think they could have done MUCH better.
And OF COURSE the special effects are not that good. Consider the time!
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In my opinion NO FILM is above riffing. Good or bad, there is always something to poke fun at. In fact, I've noticed that most of MST3K's funniest episodes are of films that are actually rather enjoyable in their own right.
Much to my surprise THE MAGIC SWORD was recently re-riffed through Rifftrax.
http://www.rifftrax.com/the-magic-sword
It was decent as well, though they sometimes have a bad habit of talking over the actors. I'm not totally on board for re-riffing films featured on MST3K, unless they decide to tackle a lot of the films featured during the KTMA Season. For example films like CITY ON FIRE, SST DEATH FLIGHT and SUPERDOME. I'd love to see those given a proper riffing.
http://www.freewebs.com/demonictoys/