I sort of remember it, I watched a few episodes. With Sandra Bernhard as the host, right? Seems to me it lasted less than a year before it was canceled.
I think it was sort of similar to a British program called "The Incredibly Strange Film Show" that was syndicated on PBS for a short time. I remember that series better. Before the Internet, these shows were one of the ways we figured out which titles to hunt down.
This show was the reason why my dad bought "Nudes on the Moon" I have to check out The Incredibly Strange Film Show. The way RWC worked was that you could send them your info to buy the any of the films on the show. They even had a "Reel Wild Cinema Club" where you recieved a shirt, and a catalogue.