The early 80s were a cesspool for D&D rip-off fantasy films: Sorceress (mentioned above), The Sword and the Sorcerer, The Warrior and the Sorceress (detect a pattern yet?), and Hawk the Slayer.

Thanks to the miracle of Youtube, here is the opening 3 minutes of Hawk the Slayer (it only feels like 6 minutes): Hawk Intro

If you can make it through the first 51 seconds of riveting dialog, you get to witness the outstanding audio and visual effects (I refrain from using "special"). If perchance you make it to about the 2:30 mark, you get to witness what $15.93 cents (in 1980 dollars) will get you for opening credits. The theme song, I have to admit, is a bit catchy in a cheesy, 70s, synthesizer way.

I dare any of you to claim that 90% of the films you've mentioned above even come close to this bad. Jack Palance and Morgan Shepperd starred in Hawk. It is truly amazing that they were ever cast in another film again.