So the back-story I heard on this film is that Gordon Liu was upset with the way RETURN TO THE 36TH CHAMBER, the sequel to MASTER KILLER, came out and felt it was too much of a spoof and didn't treat the original with enough respect. So he went ahead and traveled to Taiwan to shoot his own version of a MASTER KILLER PART 2. The weird thing about that is that much of this movie is a straight-up comedy so I'm not sure he was successful in his goal. Also this doesn't really work as a sequel and seems more like a sort-of remake with some almost identical training scenes as the classic 36TH CHAMBER OF SHAOLIN. Either way though this is a pretty decent kung fu flick with some amazingly well-choreographed action going on if you can appreciate that kind of thing.
The other big thing this film is known for is influencing rap legends The Wu-Tang Clan which as well as taking their name from this they used a bunch of samples from here on their 1st album. AKA SHAOLIN VS. WU TANG