Taken from comments I left on a pal's blog review.
hannahandhermovies.blogspot.com/2012/02/happy-gilmore-1996.html

I went with a friend to see Down Periscope largely because we were fans of Kelsey Grammar from Cheers. We left having managed about three laughs between the two of us. It remains one of the least enjoyable movies I've endured.

On our way out of the theater, some classmates were going in to see Happy Gilmore. I resisted because it didn't appear to be my brand of movie at all, but I decided to take a chance and bought a ticket and went in with them.

I'm glad I did, because I genuinely enjoyed Happy Gilmore. Now, I can't say to what extent it's because Down Periscope had lowered the bar that night, or that the Gilmore crowd was really into it (laughter is infectious, you know). What I do know is that I left the theater that time having enjoyed myself.