
Now, I'll admit that the genre is awash in drek: Beastmaster, Conan the Destroyer, Red Sonja, Willow, Kull, The Scorpion King, the Dungeons and Dragons movie (one of the worst films I've ever seen--someone, somewhere, owes me an hour and a half of my life back), are shite. These and other awful films certainly make fantasy a tough genre to defend.
But for all that I would argue that there have been three great fantasy films made. In order: The Lord of the Rings, Excalibur, and Conan the Barbarian. You can make case that the Star Wars films are fantasy with SF trappings, and if you agree, that brings the total of great fantasy films to five (Star Wars and The Empire Strikes Back). After these handful, I also think there's a handful of watchable and/or pretty good fantasy films to consider: Dragonslayer is one, and Ladyhawke is another. I haven't seen the latter in many years but remember enjoying it quite a bit as a youth.
The problem with most fantasy films is that they stack up very poorly with the source material: I love Conan the Barbarian, but it's not Robert E. Howard, and we have nothing approaching Beyond the Black River or Red Nails on celluloid. I adore The Lord of the Rings but understand that it deviates from Tolkien's novel in many places, and respect the opinions of those who found Peter Jackson's adaptation not to their liking.
Fantasy filmmakers have also largely shied away from making bloody, bleak, grim, and, most importantly, adult fantasy films in favor of safe, theatre-filling, PG-13 drek. There's nothing even close to The Broken Sword on film, or the bawdy, bloody, good humor of Fritz Leiber's Fafhrd and the Grey Mouser. 300 should have been the marvelous Gates of Fire, but, a few good scenes notwithstanding, was completely over-the-top and apparently written for teenage boys in the throes of raging hormones. We desperately a need a film based on Bernard Cornwell's The Warlord trilogy or the Saxon Stories, with shield walls and hall-burnings and historic accuracy, but instead we have the disappointing King Arthur and The 13th Warrior, two shaky pegs on which to hang our horned helmets.
What fantasy films don't need are more special effects. The Lord of the Rings works because of Sam's bravery and Boromir's "My captain, my king" speech; Conan is great because it's a classic revenge story--as we watch Arnold grow strong on the wheel, or seek out the symbol of Set, we're behind him all the way. Fantasy film directors would do well to avoid the trap of seeking to please fantasy fans, but instead focus their efforts on telling good stories that resonate. Captivating stories, and the empathy we feel for the characters that populate them, are the pumping heart beneath the breastplate of good fantasy films.
Which brings me back to Excalibur. John Boorman's film bucks fantasy heartbreak by hewing remarkably close to the source material, which is no mean feat given the plethora of Arthurian sources from which Boorman had to draw. It's a dark film, downright savage in places, poetic and uplifting in others, a heady mix. The dark is rising throughout the film, but not despair, so long as a few brave knights stand fast.
Nigel Terry plays a sympathetic King Arthur whom you want to see ascend to the throne of England, carve out his kingdom, and win the war against the usurper Mordred. Launcelot's return on the battlefield at Camlann is heroism at its highest and is deeply affecting, as is Merlin's speech to Arthur atop Camelot, silhouetted against a blood-red setting sun, symbolic of the end of a golden age of man. The cast really makes this film stand out: Nicol Williamson (Merlin), Helen Mirren (Morgana) and Terry are brilliant, and Liam Neeson and Patrick Stewart also shine in small roles.
Unfortunately, films like Excalibur and The Lord of the Rings are so rare, and the bulk of their sword and wizardry company so shabby in comparison, that the result is aspersions and a dim view of the genre as a whole.