For a film that has Arnie's face at the centre occupying the most space in the poster, and has his name billed as top-cast, he's barely there. He plays Gunther, who's adjudged the greatest hit-man in the world. A cluster of tier-2 hit men (and hitwomen) led by Blake (Taran Killam, who also wrote and directed the movie) target Gunther for various reasons - some merely professional, while some purely personal.
'Killing Gunther' must have actually been the by-product of an unproduced SNL skit (as it certainly carries the vibe of one) - yes, there are indeed a few unadulterated laughs prompted by the ensemble, but the rest of the movie doesn't register (especially the action set-pieces). Even the jokes get increasingly absurd as the movie progresses and the viewer doesn't feel like backing the interests of any of the characters. In fact, we'd rather root for the rather mysterious Gunther than the buffoons we see on screen for a good 70 minutes straight.
The visual effects are tacky (yeah it's a DTV movie) and the holes in the script way too huge (even if you decide to turn your brains off and treat it all like the BS it really is). Arnie's 'cameo' comes in a lot later than expected, and when he finally makes his entry, there isn't much left to salvage as the material in hand is unfortunately too trashy.
The performances are supposed to look outlandish and hence, they are. No one really stands out in their portrayals and the chemistry amongst the group is lacking. When the supposedly clumsy cyber-nerd is the most likable character in a movie about 'professional assassins', it doesn't help elevate things even to the slightest extent. Taran Killam wants this movie to look like the parody of parodies but his attempt kicks the bucket in no time. 'Red' is a better film in this genre.
Verdict: Give this one a miss, especially if you're still an Arnie fan!