Assuming you're a Bruce Campbell fan, that is. Let's make this clear from the start - this movie is a film very much for the fans. And you know what? That's absolubtly fine because it's the fans who are going to be watching it anyway. Not that I'm saying you have to have willingly ploughed through such Bruce Campbell classics as Alien Invasion, Crimewave, McHaile's Navy and Intruder to enjoy it.... but it probably helps.
The entire film is a send up of what I would call a 'typical Bruce Campbell film', not to mention a send up of Bruce himself. His obnoxious, arrogant, self involved yet ultimately jaded B-movie star is clearly a characachure of everything people might expect him to be, and yet you can't help but love him. Well, after all, it is Bruce Campbell.
This movie from start to finish has it's tongue very firmly in it's cheek (Ted Raimi plays three characters, two of them with accents, for goodness' sake!) and it's in that spirit that it needs to be watched. If you are going into this expecting to be blown away by some high-satire about life in the movie industry, you will be disappointed. Likewise, do not watch this if you are expecting Evil Dead 4. Instead, gather a few mates, order a pizza and have some beers, (maybe prefix it with a couple of the movies I mentioned above for extra effect) and settle in for a throughly silly but entertaining night which while not exactly earth-shattering, is sure to leave you in a good mood.
Note: after viewing this, I recommend Burn Notice. Could be our man's demon battling days are numbered... but hey, car chases and explosions are a good alternative.