As MST3K episodes go, this is one of the tops for me. It has everything you could want: a terrible movie, a terrible short, consistently funny riffing from start to finish and good skits.
In this lineup we have Mike, Servo, and Beaulieu's Crow (which is my favorite Crow). The movie is indeed terrible, however, I can at least say that it DOES have a coherent plot/storyline. This episode has so many quotable riffs and has some riffs that I use in everyday life. Additionally, Teen-age Strangler has one of MST's most memorable weirdo movie characters: Mikey. Aside from the short and movie being hilarious, the skits in between are pretty cute, too. This is one of those episodes that I wish I could see again for this first time.
The bottom line: This is a must-see episode for fans of the show and I consider this to be a good episode to have in a lineup if you are considering introducing someone new to the show. :)