Return of the Living Dead 2 is quite bad, at least it was last time I watched it. Maybe I'll give it another chance this Oct. Burial Ground is the clear winner for me on this list though!
Return of the Living Dead Part 2 I quite like it, better than the original. Hell of the Living Dead, Burial Ground and Bio-Zombie get honorable mentions.
I think Zombie Flesh Eaters should be on the list! I've tried to watch it, multiple times, and failed every time. It fails for two reasons; 1. It looks virtually the same as Zombi Holocaust in FF (and I enjoyed ZH!) 2. The VHS I have is an abomination. It's cropped and very poorly panned and scanned (assuming it was at all!!). It also looks to be savagely censored, which this page would certainly seem to confirm. The cuts are so brutal the early scenes (the only ones I've seen) barely even make sense! The funny thing is, I love the soundtrack! I do have it on DVD, but I have yet to watch it. I think that godawful tape is headed for the ebay scrapheap.
The second reason you list is not really a valid one, startide - the movie deserves to be seen in a decent transfer, such as the BU or (even better) Arrow one. It's definitely a more polished movie than Zombi Holocaust (which it apparently shares some locations with). There are moments of cinematic exploitive elegance (such as "the boat can leave now, tell the crew", the ghost ship drifting into the New York harbor, the splinter scene, the POV of the corpses emerging from the earth, etc.). Overall, the makeup effects of ZFE are also better than those of ZH (ironically, since some of the same makeup artists worked on both movies).
I think my argument is perfectly valid. Does it deserve to be seen in scope? Absolutely. But the option you mention is only a relatively recent thing, and I'm not stumping up the cash for blu for a film I've never been able to make it through before. VHS was king, once upon a time. Don't forget that.
So many awesome movies on this list!! Burial Ground, Zombi 3,4,5, House of the Dead, Bio-Zombie, Nightmare City, Oasis of the Living Dead, Hell of the Living Dead....but I voted for Zombie Lake. It truly deserves to be called one of the Worst Zombie movies but it's so bad that it becomes enjoyable.
Oasis of the Zombies. I expected it to be just as horrible as Zombie Lake, but I actually found myself enjoying it. I'd watch it over garbage like The Video Dead and ROTLD II any day.