It doesn't sound like its very good. I have heard the name before, but have never heard or seen them before. Is the first dvd worth checking out?
The original show, on DVD, is wonderful, especially if you know the Beatles' story. The Rutles' Beatle-like music is great parody and yet very good in its own right. The original All You Need Is Cash is a classic, and it would be tough to equal it, but I still can't resist trying to see this sequel.
"All You Need is Cash" was the prototype for "This is Spinal Tap". There are a lot of details that a Beatles' junkie will get right away, but even if you're not, it was a brilliant piece of comedy and original music ahead of its time.