Wizards of the Lost Kingdom (1985 72 minutes)

This starts off with some stolen footage from Deathstalker (1983) and Sorceress (1982) but where those movies were too preoccupied with boobs to be much fun, this is all about the wonder of a child's imagination. An evil wizard is doing some conquering when the good wizard entrusts his son with a ring of power and sends him off to escape into the woods. The kid loses the ring in about 10 seconds but he does have a companion creature (who looks like a cross between a sheep and Chewbacca and  sounds like a mix of Foster Brooks and the Swedish Chef from the Muppet show) to keep him company. They meet up with Bo Svenson(as a master swordsman) and  go on a quest to recover the ring and a sword of power to defeat the evil wizard who really hates midget henchman. Along the way there are many trials including a woman that turns into a gross spider monster, skeleton warriors, a cave full of ghosts, and a huge headed warrior that turns out to be a cyclops + some brightly colored optical effect wizard laser light battles that outdo CGI anyday. And all of this happens in just over  an hour? Huzzah!