From the comments I read before watching it I was preparing for something really awful. But never got it. I found it rather entertaining in a campy way.
And hey, you can never go wrong with nice looking 70s girls. Even though I would have wanted more boob shots :P
I saw most of it, back in the day (on tv) and it's at least mildly amusing, if never really funny. It gets by on the strength of the actors and a decent, if silly plot. I think the problem is that it is never really funny, nor is it scary. So, if you are a vampire movie fan, you are disappointed, ad if you expect a hillarious comedy, you are disappointed. If you just want a bit of light entertainment, and aren't easily offended, you'll find enough to kill 90 minutes of your day. If nothing else, there are some beautiful ladies.
"Fortunately, Ah keep mah feathers numbered for just such an emergency!"