I actually like the Last Action Hero when I was a kid considering that I pretty much ate up all Arnold's movies then. My taste have probably changed but I still would give it 3/5 (Netflix rating) just because of Arnold.
Also, you have Gladiator as a meh movie... Not sure why the hell that is. It is at least a 3-4/5 movie.
Blazzing Saddles is at least a 3/5 also. If you don't think Mel Brooks did a very good job on that movie then you should try Robin Hood: Men in Tights. If you don't like that movie then I am not sure what to say to you.