This late straggler in the slasher-movie cycle of the early 1980's is a "neither fish nor fowl" exercise in frustration. This is a shame because Killer Party actually seems promising in its opening minutes: the film kicks off with a tricky opening sequence that fakes out the audience not once but twice. Unfortunately, it's all downhill from there. The actual story is a mix of slasher movie clichés and goofball antics from the sex-comedy playbook. Director William Fruet brings competent craftsmanship to the proceedings but neither he nor anyone else involved in the creative end of this enterprise figured out how to blend horror and humor in a balanced, effective style. As a result, the horror elements become too diluted to be effective and the humor overstays its welcome because it isn't amusing enough to stand on its own merits. The cast tries hard but their characterizations are too vague and stereotypical to breathe any life into the contrivances of the plot. The third act throws in a major plot twist to up the ante but it is too contrived -- and silly -- to really pack a punch. In short, Killer Party is best left to the 1980's horror completists. . . and even they are likely to find it too inconsistent to be satisfying.