In a word, terrible
Kevin Eastman bought the Heavy Metal franchise with his Teenage Mutant Ninja Turtles money, and decided to prove his ineptness once and for all, by producing a movie geared towards tenth graders that sneak into R-rated shows and then casting his wife, Julie Strain, as the lead. The movie cribs heavily from the original, including an entire scene essentially ripped from the Taarna story. But Eastman is not even a good thief; the movie has crappy animation quality superimposed on hyperreal CGI, truly lousy dialog, and story that seems to be kludged together from a random sampling of the graphic novel, with a good sprinkling of all of Julie Strain's worst dreck. It failed in every way to live up to the original.
The videogame, however, has good production values, and is a truly beautiful game, particularly if you consume psychedelics while playing it.