I saw this a few years back and had to own it so I could show it to my friends on my "Bad Movie Night". Even with all of the constant volume manipulation it was a blast! That fight scene outside of the gym is hysterical.
Went to Alamo Drafthouse to see KILLER WORKOUT. It works amazingly well in a group setting. There was riotous laughter throughout the first hour. Ever line of dialog from Lt. Morgan (David James Campbell) got a huge response. So did the ultra-pervy camera zooming in on chests, asses and crotches during the gratuitous aerobics scenes. The biggest laugh came from an exchange between Ted Prior and one spandex goddess. Ted is asking about the meathead he had just vanquished in a fistfight. She says "I used to date him" "He's a freak that's into kinky stuff". Ted's immediate response, "Do you have his address". The movie is littered with these of moments. If you have the opportunity to see KW with a group, take it.
Killer Workout (Aerobicide) seems to be one of Slasher//Video's three quasi-announced titles, along with Deadly Prey and Shock 'Em Dead. I'm under the impression that Slasher//Video will be utilizing a Betacam SP master for their transfer, so I'd be curious to know what sort of elements were utilized for this screening.
Even if you own the rights to a movie that someone else has the 32mm reels. Are you pretty much shit out of luck on your end? I have seen many times like on eBay people selling 32mm reels.
I think that is a case by case situation. Ideally the licensor would have the 35mm negative, or inter positive or at the very least a clean print. But negatives can be scattered to the wind and separate from the rights holder depending on the closing of storage facilities, auctions of unclaimed film canisters, etc. So as you license a film you better be clear on what you have access to and what condition those elements are in. Lots of 70s color film stock was unstable so it can have problems. Things like that. Or people lose elements. I've mentioned before when I first came to LA that I worked in distribution at a large independent company and I know for a FACT that they had no idea what was in the film canisters in their vault. I did. But they didn't. When they folded and got bought out I had to document everything - I put it in an excel spreadsheet that I'm sure they ignored and who knows where it got stored from there.