I remember seeing this movie in theatres back in the 80s. But I don't remember it being this lame. The Media Blasters/Shriek Show is a heavily edited version. Most infuriating is the fact that the trailers provided on the DVD show some of the gore that has been edited out.
A group of friends decide to take a vacation on a Greek island. But first there's the a long intro kill. A couple goes to the beach. The girl goes swimming and sees a boat, swims to the boat looks in it and sees something that makes her scream. Whatever she sees we don't get to see. Then we see blood appearing in the ocean. The guy is listening to music on the beach and his head will meet an axe.
Back in Greece, our group goes to the posh house at which they stay, but there something wrong. Some ghostly woman appears but hides from them. In the basement they find a hysterical woman covered in blood, who warns them of someone. Finally, in minute 52 (!) we finally meet our flesh eater who spends time in some real underground catacombs associated with some church. There we get to see one of the two decent gore scene in the movie.
Our villain dispatches a couple of our friends but eventually meets meets a cruel and ironic death.
This movie in its rated version is painfully slow, with very little worth seeing. One can't care about any of the characters. One good things is that we get to see why the anthropophagus became an anthropophagus. Presumable there's some connection to the opening scene, but since we don't see that in its entirety, as it is, part of that intro is pointless. The scenery is great, being filmed on beautiful and fascinating locations.
I can't recommend the rated version.