Although most bad movies are 70's/80's there are a good deal of terrible modern movies around.Just go to your local video store and find the straight to video section and you'll find some real gems.Like Low budget Teen-slasher rip-offs and sequels to classic movies (Cruel intentions 2 or Children of the corn Issac's revenge 666 anyone?).What about movies released at the cinema nationwide Jason X and Reign of Fire are definetely future contenders for badmovies.org
(Check out the Dick Van Dyke style cockney accents in Reign Of Fire).
Beware the flesh eating popcorn
"Killer Klown Dragons from outer space."
....Story of a group of Well dressed Klown dragons who open thier mouths, and insted of fire, a sign comes out that says "Foom!"...then , they bite your head off.