Paul Naschy films can be more than just a little bit hit and miss - and unfortunately there's a lot more misses than hits, but every now and again you happen upon a good one and this flick is certainly among the better Naschy films that I've seen. The film is directed by Naschy himself, and true to form (considering how a lot of his films are rather similar to each other) this one takes a hell of a lot of influence from Naschy's earlier works, particularly the boring Horror Rises from the Tomb. It's not original by any stretch of the imagination, but Panic Beats works well thanks to its atmosphere, gore and plot twists - it's almost verging on being a Giallo! The plot focuses on Paul; a rich descendant of a legendary knight named Alaric de Marnac. The knight has his own legend, and apparently he reappears every 100 years to batter any unfaithful women around his house. Paul decides to move his rich, but terminally ill wife up to the castle where the knight is reputed to have lived. Strange things start happening, and it appears the legend may be true...
The film gets off to a great start as we watch the knight chase down and slaughter a young woman. The film slows down from there and focuses more on the plot and characters. I won't say that it's all that interesting, but the film never gets boring and the way that we focus on the legend of the ancient knight is good. The film really picks up around the middle when the twist in the tale is revealed and it becomes obvious what the film is actually about. Naschy packs this flick with plenty of gore which is nice and the way that it's dished out is often unpleasant, which of course is also nice. There's a fair bit of bloodshed and the budget constraints were obviously a problem as it looks rather cheap - but it's still nice to watch. There's not as much nudity on display as some Euro-horror fans will be used to but Naschy is nice enough to cast some beautiful women and we do get some nudity. It all boils down to a predictable but well worked ending and while I cant say that Panic Beats is right up there with the best that Euro-horror has to offer - it's certainly a decent little film and above average for Naschy flick so I can recommend it.