So is it legitimately amusing, or is it unbearable?

Define "legitmate." Then again, I think this is a movie one has to see and judge, or refuse to judge (as the case may be) on its own. I certainly enjoyed it in a way. I certainly cringed throughout the whole thing in another way.

It should be noted that we got the old DVD, and there is a new version that has a commentary by David Schmader that's supposedly very funny. I might have to rent it again just to get that, and I might recommend that version so that if the movie is unbearable, one could always listen to the funny man make light of it.