Reminds me of Space Mutiny
The body builder actors, the elderly ladies attempting to pretend they are young, bad plot, bad special effects (though at least they used a better origional image with that "future" submarine), and horrid direction. It was an intresting idea for Corman, but unfortuantly it seems like he does this intentionally, which is goes with a good idea for a plot which falls flat on it's face from everything else.
This movie was just Space Mutiny missing the bots and Mike making fun of it on MST3K.
/Mystery Science Theater 3000: "Only YOU can prevent Roger Corman!"