It may be said that Leprechaun 3 is both superior than Leprechaun 1 and 2, as well as inferior to Leprechaun 2.
The first act is horrible, yet it manages to keep the audience interested anyhow. Mark Jones, with the exception of his Leprechaun character, is incapable of penning believable conversation.It made me feel sorry for the actor John Gatins, who played Scott McCoy, since his character, a young college student, was given some of the most unbelievable lines in the history of acting. It was so bad that it Leprechaun 3 was nearly impossible to watch.
Once Scott is infected by the Leprechaun's blood, the plot shifts and the rest of the movie is pure fun.
Second act entertainment is provided by Warwick Davis's rhyming dialogue.
If not for Davis, these movies would be unwatchable. The Leprechaun brings with him a devastating charm that is entertaining to witness.