I haven't seen this since it came out, and I was only 14 or so, but I remember parts of it that were good. And i also remember that some parts were a bit boring and silly. I need to see it again......my appreciation for soft-core porn (esp. from early to mid-70's) has become more profound now that it doesn't really exist anymore. Hard-core porn (which isn't even an art format) destroyed this genre of cinema :-(
Bud Townsend will make a profit business in destroying / reinventing popular modern myths (his version of Flash Gordon is a fine exemple). This is a basic porn movie with the add of psychedelic lights, baroque and inventive grosteque moments. At best it reminds me the kitsch quality of a few movies by Ken Russel, also Cinderella by pataki comes very close to this kinky Alice.
Saw the R-rated version. Some of it was funny, a few good songs, and actually a good performance by Kristine DeBell as Alice. That said, the film is also a mess. Looked horrid and the songs that didn't work were dreadful to sit through. If you can look past the bad and you're watching it with friends MST3K style then it could be okay, otherwise, eww.