The Crown and the Dragon is a low budget fantasy movie - but with a fairly good plot, considering its a low budget film.
There are a lot of cheesy low budget fantasy films out there - and many of them are outright horrible. But I must admit the writers put in some extra effort when they were making "The Crown and the Dragon".
I think this extra narrative quality comes from the fact the movie is based off a book from the book series "The Paladin Cycle", as opposed to most low budget films which are based on a horribly written script. Movies based off of successful books are always going to be more successful.
Take for example the low budget movie "Orc Wars" - which is based on a horribly written script. You can tell the difference between the two films easily just from the quality of the narrative. "The Crown and the Dragon" also had a better budget - nothing spectacular, but enough to make better looking dragons and costumes - whereas in "Orc Wars" some of the orcs are wearing jeans and boots with shoelaces... which shows the costume designers for "Orc Wars" just plain didn't care and had a really small budget to work with.