If you've already seen Dead Alive, there's really no reason to see this film. Dead Alive has better gore, better acting, better plot, better ending, and lacks the excruciating 80's uptempo generic hard rock soundtrack that Bad Taste unfortunately features. Aside from a few amusing gross-outs, the only interesting thing about this film is that PJ is an actor in it, playing two roles, back when he was young(er) and thin(ner).
I can see that one might remember this film fondly if one saw it back in the day, as some of the gore effects are pretty good for a low budget flick. But after Dead Alive, this just looks anemic in comparison. Like the 2 month old mango in my fridge, it hasn't aged well.