It has some pretty good ideas, but it is a terrible Highlander film. It feels like an odd attempt to crossover The Prophecy series with Highlander, if the writers had only ever read the synopsis for the Prophecy sequels. That funky neck guard should have come into play several films ago.
An awful film, but I admit I found it entertaining. Seeing such a series, regardless of the quality of the sequels (which I can't judge because I haven't seen them yet), with the mythology it has, get turned into a cheapy UK co-production is a bizarre and amusing sight to see.