There's a reason why Hollywood in the late 1960s went into its worst recession since the direst years of the Depression in the 30s--it was lavishing ridiculous amounts of money on bloated musicals like this that totally *tanked* at the box office.
For some reason, the studios kept handing these big-budget adaptions of hit Broadway musicals to Joshua Logan to direct, even though they always ended up complete failures (check out the horrible use of color filters in "South Pacific" [1958], or Clint Eastwood and Lee Marvin *singing* in "Paint Your Wagon" [1969])). Like that later film, "Camelot" seems to go out of its way to cast its musical with stars who can't sing or dance to save their lives. Instead, the cast seems to be trying to tap into the interest in swinging "Mod" London of the mid-60s. (With Vanessa Redgrave and David Hennings, you have half the cast of Antonioni's "Blow Up" [1966]!) The film also tries to appeal to both a family audience *and* discerning adult viewers simultaneously. I can't imagine parents being happy about the frank earthy sexuality of "The Lusty Month of May," or the overt adultery of the plotline--but people looking for adult fare would be annoyed at the attempts at sweetness and light being thrown in as well.
Obviously, no one from either side was too happy, because this was a *big* flop for Warner Bros. when it came out. Seeing it in a *huge* theatre in 70mm may help maintain interest visually (the costumes are striking), but this will be lost if watching it on video (esp. if it's a "pan-and-scan" instead of a letterboxed version). This is a movie only for those who are die-hard musical fans that are willing to sit through anything--because this is one of the movies that effectively killed the genre's popularity.