Sword of the Valiant (1984)
This previous film on the same subject was also directed by the same person, Stephen Weeks.
The second fight between Gawain and the Darth Vaderesque Black Knight inside the cave is designed to parallel the similar scene in The Empire Strikes Back.
The armors in this movie are designed to resemble those seen in Excalibur (1981).
The intro with the forging of the sword and the Morgana scene mirror the intro and witch scene from Conan the Barbarian.
As 'The Sword of the Valiant' formerly 'The Green Knight'. Referred to by Sean Connery as an upcoming picture he is in waiting to be released.
Mike Stoklasa mentions it. Also, video case is shown ("Sword Of The Valiant").
Film extracts featured.
During the girl fight, when the remote control starts flipping channels, one of the things it lands on briefly is a fight scene from this movie.