The original version was rated X for graphic violence and was edited down to get the R-rating.
There is one really good car chase.
Main qualities of this film are bad acting, super violence and some really bad acting by Stallone, who grunts his way through this picture, just like Rocky but with sunglasses! They did rip off Terminator 1984 with the use of the red site on the fun and factory end battle, with a very iconic ending of Cobra handing the The Night Slasher on a hook.
While Cobra was critical failure, being sighted for poor plotting, dialogue, gratuitous violence, and rehashing action cliches, the movie still killed in the box-office.