First, 1996 is clearly the date of re-release. Judging by the look of the film and ages of the actors, it would have been made around the mid-1980s. Some of the story seems to be influenced by Chinese Ghost Story, so it may be post-1987. Either way, it is certainly not the same film as "Clan of Amazons (1978)". Also, judging partly by continuity problems, it appears Anthony Wong's part was either enlarged or rearranged. Although he is given top billing, Mang Fei clearly plays the lead character.
Second, this film contains all the elements of what I love in HK cinema - flying people with flowing silks, swordplay, smouldering stares, and even a pretty lady dancing in the nude (behind silk). But, just as flour mixed with eggs and sugar doesn't necessarily make a great cake, this film is a total flop. The characters are completely non-involving, the story makes no sense, the fight/flight scenes are barely competent. In short, the overall product is appallingly cut, paced and directed. Which is a shame, as the ingredients were all there.
Having said that, if this is all they could do with a re-cut and re-release, one shudders to think what the original product was like. Instead of buying/renting this one, watch Chinese Ghost Story again.