Got a copy of the movie for Christmas and watched it last night.  As a lucha movie fan, I'd have to agree with the reviews I've read and put this near the top of the genre.  Although, as Shonokin mentioned, there is something about the old black and whites that make them quite special.  This is definitely MM's best film and there is some really outrageous dialog that sets this one apart from his previous efforts.  Another thing to mention is the picture quality - I couldn't believe how clear the images were and how well the color displayed.  An absolutely hokey tale, to be sure, but lucha films are supposed to be that way and lucha fans love 'em for it.  The producers/director really hit the nail on the head with this film.  If you're a fan, see this one.