I recently rented this movie as part of a nostalgic phase I'm going through. I was born in 1980, and so film from mid-80s to mid-90s has quite an important place in my growing up.
This particular movie was one of my favourites, and so I was thrilled when it became available in the UK. It hasn't become worse with time, it is still a great fun film, with plenty of excitement in its own way. Sure, it pales in the shadow of bigger, larger budget films, but don't let that stop you enjoying this.
Worth a rent, or even a purchase at the discount prices you'll find it for.