More info you requested:
Brotherhood of the Wolf (Le Pacte des loups) - This is a french film with subtitles. It is not fantasy in the strictest sense, but is more of 18th Century horror (I'm sure someone will disagree with me on this point). While definitely bauetiful in look some (including myself) argue as to the quality of the story. If you don't mind subtitles it can be enjoyable.
A Knight's Tale - *The movie with Heath Legder as a Jousing Knight*I haven't seen this as it has a couple of things that I hate in movies. First it pretends it is historical while rewriting history and secondly it takes a historical period and has the locals singing rock and roll songs. Now these are my personal pet peaves and I will acknowlege that many people liked it.
I am not familiar with these at all:
Deathstalker I-IV
Barbarian Queen 1 & 2
'ATOR Movies'
As for martial arts that is a subject that deserves its own thread.
A few more things I have though of:
Monty Python and the Holy Grail: A different take on the Arthurian legend. One of my favorite movies of all time and probably the best of the Monty Python bunch. You either love it, or hate it because you just don't find them funny.
First Knight: Come one, come all, come see Richard Gere and Sean Connery butcher the story of King Arthur. truely you better think bad=funny if you are going to enjoy this one. An A budget with a B feel.
Merlin: The NBC mini-series that tells the story of Merlin's life. It has some good effects and an all star cast. I found it average. Not great, not bad, just average.
Jabberwocky: Another Monty Python film, this time a somewhat more serious look at the middle-ages (this doesn't mean not a comedy, just not as campy as Holy Grail). It has my favorite death scene of all time, even better than the one in Buffy the Vampire Slayer movie.
Army of Darkness: A much darker comedy version of A Conneticut Yankee in King Arthur's Court. This one stars Bruce Campbell transported to medeval England where he fights a horde of Zombies with a gun and a chainsaw. You got to like camp(bell) if your going to like this.
A few things that Ranger REG pointed out:
Red Sonja: Many who love Conan the Barbarian hate this film. I liked it (go ahead and flame me). This probably will suit you fine in the bad=funny catagory. As a bonus it stars Arnold as a barbarian exactly like Conan but with a different name.
Conan the Destroyer: A B film with an A budget if there ever was one. Destroyed the Conan franchise for 20 years.
Krull: I could have listed this as well in the bad=funny list, but I personally just found it bad. Here's a chance the see Robbie Coltraine and Liam Nieson in a film they would probably like to see burned.
More to come later as I think of them.