The real name is "The Giant Spider" but I keep saying the Flying Spider, so as a compromise, I've retitled it the Giant Flying Spider.
Spiff - Yes, yes you are. This film doesn't necessarily rely on knowledge of the previous films in the series, but does have an extremely strong tie in to the first one (especially) and the fourth one (one character from that shows up briefly here).
It was filmed (mostly) in Sid Korpi's incredibly beautiful home. There's a tour of the real home on the DVD, so you can see it in glorious technicolor.
The films, in release order, are:
1 - The Monster of Phantom Lake
2 - It Came From Another World
3 - Cave Women on Mars
4 - Terror From Beneath the Earth
5 - Destination: Outer Space
6 - Attack of the Moon Zombies
7 - House of Ghosts
You can get them all at www.sainteuphoria.com
(click merchandise) ... They're 10 bucks each, and Chris is running a special now, get all 7 of them for just 50 bucks.
Each one has at least one audio commentary, running gags in the closed captioning, bloopers, behind-the-scenes docs, easter eggs, and several of them now have intros by that famous horror host Dr. Ivan Cryptosis. So basically, you get a big bang for your buck.