'Golden Voyage' is much better than the later 'Sinbad and the Eye of the Tiger' and equal to the earlier 'Seventh Voyage of Sinbad'.
The Harryhausen creatures are impressive. Stop motion animation does give solidity to the image, more so than the usual CGI effect. There are some fine ones here including a one eyed centaur, a homunculus, a griffin, a six armed statue, a ship's wooden figurehead. The story is standard but the effects, the locations and the plot weave together well. There is also a dry humour in the dialogue which is entertaining. Scenes like the sword fight with the six armed statute (with six swords!) or the final confrontation at the fountain of wisdom (or something like that) are exciting. The great Miklos Rosza's music adds considerably to the atmosphere.
John Philip Law is OK as Sinbad and does attempt an Arabian accent unlike the usual English one, but the role isn't Shakespearean and he does well enough. Caroline Munro looks splendid in her costume, low cut almost everywhere. The rest of the cast support well.
Tom Baker is excellent as the villain Koura. He makes him sympathetic; what drives him is common to all people. He just uses different means to gain his ends. He dominates the scenes he is in and it is a pity that more big screen roles never came his way. He was the best 'Doctor Who' in the BBC series, in my opinion of course.
A good fantasy romp to appeal to the adventurer in all of us. Did I mention Caroline Munro's costume? Oh, I did.