Yes, this is a Swiss movie - it's holy cheese.
Entertaining, though, at least from a nostalgia point. I grew up watching this movie every summer, and it hasn't lost it's charm to me. Charlie Sheen being bad yet good, villians named Packard driving 'Vettes, Clint Howard! This movie has it all.
Unfortunately, the transfer isn't great. Very watchable, but dark. I believe a better transfer was just released in April 2004, though I can't verify this. You may want to try to find details on that one, but you won't go wrong with this.
If you like Rebel Without a Cause esque drag races, 80s special effects and music and Charlie Sheen, well, this movie might be a keeper.
Just take it with a grain of salt.