I bought this DVD awhile ago, but I just got around to watching it Wednesday night. This movie is absolutely putrid.
First of all, if you can't afford decent CG effects, then don't use them at all. Giant monster movies from the 1950s that used stop-motion animation were more convincing than this. Scenes of giant cobras swallowing victims are absolutely hilarious due to the crappy effects.
This movie also suffers from the "infinite ammunition" syndrome. And star Michael Pare is the biggest offender. The first time he uses his pistol, he fires more than 50 shots without reloading. Later in the movie there is a scene where he probably fires more than 100 shots in rapid succession without reloading. (No, he isn't using an extra-large clip). And to make matters worse, he's firing at a CG effect that looks like it's pasted on the screen.
Then there are the cliche evil military characters (it seems like the entire U.S. military consist of a General and a Major . . . not many other military types in sight!)
In addition to what I mentioned above, the dialogue is bad, the acting is bad, and every scene is ridiculous. Not to mention the fact that the Komodo and the Cobra don't confront each other until the end . . . and they barely even start a battle before the movie ends.
I give this movie a huge "Boo!"
Here's a typical scene: