Hmm, and we're back to this again. While the second Evil Dead was a good blend of comedy and horror, this one drops the horror and instead aims for pure corny comedy. It's supposed to be a parody of lame B-movies, I think, but to me it actually just became one. The story was as simplistic as they get, the action was dull (and the stop motion was poorly done) and the acting was absolutely horrible (except Campbell, who is decent). And to top it all off, everything that's supposed to be cool (like the chainsaw hand from the last one) just ends up feeling like the filmmakers are trying too hard.
This was released in 1992, which means age is no longer an excuse for this entry in the series (freaking Back to the Future came out in 1985, for example)... in other words, this isn't old, it's just crap.
In a sentence:
In trying to be a B-movie parody, it becomes one. Feels like watching a slightly more explicit children's movie.