One movie that comes to mind... which isn't that old, but I guess 1980s qualify as "not new"... Cry-baby. The one with Johnny Depp. It was *terrible*, literally speaking. I, for one, loved it. It was only terrible because that was the point behind it. I looove satire.
And people have mentioned it, but Monty Python and the Holy Grail was great, too. I need to re-watch it now that I'm a little older, thus possibly able to understand the jokes better.