is it good & funny?

Actually, it's horribly bad. But yes, it's still funny.

For the love of God don't watch the non-MST3K version.

Negative on both counts. This film flat out stinks worse than moldy old cheese.

I've been chasing grace/ But grace ain't easy to find

It's the perfect kind of movie to watch with other B-movie aficionados and make fun of.