This is a great film. Here are some highlights:
The film has scenes directly recycled from DEATHSTALKER I as well as BARBARIAN QUEEN, but portrayed as if they were brand-new scenes.
Unlike Deathstalker I, there are no pig-men, but there are lion-men and wolf-men and -women, who seem to be recurring villains in the film. Like the first film, the protagonist is played by Rick Hill, which is fun to see his deadpan-delivered lines. His female sidekick/love interest is Dionara (Maria Ford). The duo basically make their way to another tournament, which evil Queen Kana is holding for the warriors in the whole kingdom.
At one point, Deathstalker meets a Tommy Wiseau-look alike who does 50 pushups. Named Vaniat (Brett Baxter Clark), he sort of follows Hill and Ford to the tournament. We later learn that Vaniat is the first no-fapper (which I didn't know existed in 1991): he tells Deathstalker that sleeping with women saps one's vital energy; hee also eats a whole pig and likes cardio. He was basically a crossfitter before cross fit existed. To add to the greatness, this character's non-exposure to women becomes a hilarious plot point later on in the film.
We also get to see the early '90s fascination with lesbian-esque women clad in leather, one of whom has a buzzcut and befriends the main girl Dionara. One of the secondary villains whom we meet midway into the film is a lesbian, who basically forces herself on a younger girl after killing her female guardian.
The music sounds as if the composer was having a seizure on the keyboard.
With so much greatness, DEATHSTALKER IV is a much-watch!