Not just vampires, but Lesbian Vampires!
Others have given a detailed review better than I can, so I'll keep it general: bad sound quality, bad video quality, bad editing, bad choreography, bad directing, bad acting, bad story, bad script. I liked it! Here's the real breakdown:
30% trying to be a bad movie and just being stupid
40% bad movie in a good way, some of it damn funny
50% leaving you scratching your head saying "wtf?"
(Yes, that's more than 100%, because there's some overlap there)
For a movie that was trying to be bad, they did pretty good overall. Usually that sort of thing is really hard to do on purpose. I'd recommend it as a good group drunk movie.
I'm sure the whole thing is blasphemy, but it struck me as a casual blasphemy on the whole. I don't remember any bits that were intentionally blasphemous in an attempt to be insulting. I'm admittedly not too sensitive to such things, though, so if that is an issue for you watch at your own risk.
Real Movie Score: 1 out of 10 stars
"I Like Bad Movies" Score: 7 out of 10 stars