This movie is based on an Italian comic strip steeped deep in rich dream symbolism and sadomasochism. I felt the movie succeeds only partially in the mixing of dream and reality, which is odd, since so many Italian horror movies and giallos eschew rational in favor of dream logic.
The main plot revolves around the title character's (Baba Yaga) scheme to draw the comic strip's main protagonist, Valentina, into the underground world of lesbianism and witchcraft. Considering Valentina's politics, not to mention her sensitive New Age guy boyfriend, Arno (played by George Eastman), its a wonder that Valentina doesn't willing shackle herself to Baba Yaga's whipping post.
Other then the film itself, which looks gorgeous, there is an interview with director Corrado Farina and a documentary on Guido Crepax's comic strips. There are also about ten minutes of deleted scenes.
This is a hard film to recommend because about 1/2 of the people you would expect to enjoy it will end up hating it and wonder what kind of person you mistake them for. And about 1/3 of the people you would expect to loathe it will claim it's their favorite Italian film of all time.
I'm the type of person who thinks this movie will grow on him over time and after repeated viewings but right now I can only give it three stars, though the DVD is definitely a five-star effort.
If money is tight, rent before you buy. But if you're an Italio-phile, you're going to end up buying it at some point anyway so you might as well just make it your next impulse buy.