It's out, and it's great! Based on the infamous Jack Chick tract of the same name, the movie is not exactly a parody. That is to say, the whole tract is so hilariously asinine and silly, that the movie just beautifully plays of it.

http://www.youtube.com/watch?v=8qc9JiIiOSQ

For the record, Jack Chick has not and will not receive any royalty from the movie.