OK my two nominations are:

King Solomon Mines with Richard Chamberlian. It was an 80's film. Sort of trying to capture some of the Raiders of the Lost Ark audience. The 50's version was actually better, but still bad.
Usually, when this subject comes up people say you can't come up with a worst film. I say, 'Oh yes I can'. Firewalker with Chuck Norris and Louis Gosset jr. The sexual inuendos are pathetic. You really wish Bruce Lee was around to kink Chucky's butt over this film. I think Louis Gossett Jr. should give back any awards won for being in this one.
They used to have Barneys Really bad movies on Saturdays or was it late night. There were some really really bad movies. 'The Day After' an Austrailian nuculear holicost movie was bad, bad ,bad. There was a western they played that made the twins from Everybody Loves Raymond look like Oscar nominees.
Tom