I can't even count the number of times this violated physical laws...

There's no way a giant octupus could attack planes, because the refractive index would make it difficult if not impossible to see through the water/air interface, let alone see several miles up (about 7 miles for an airliner at cruise altitude).  If it struck an airliner, its tentacle would be ripped off (Mach 0.8 for a steel aircraft will overwhelm any flesh and blood appendage). 

That is if the creatures didn't die under their own mass.  Volume to surface area would mean they had a hard time getting rid of waste heat, although the ocean would help with that.

When the shark fell back to the water from it's huge leap, it would crush its own internal organs under the force of impact.

Lorenzo Lamas' career has truly "jumped the shark".  Is this possibly the worst film ever?

@Robinet - Oooh, good point about the golden gate!

@The_Hawkins - Seriously, did you miss the part where it said "Sci Fi Pictures Presents"? or did you never get subjected to one of their made-for-tv movies before? These include Abominable, Alien Apocalypse, Alien Express, Alien Hunter, Alien Lockdown, Alien Siege, Boa vs. Python, Frankenfish, Mansquito, Mega Snake, Rock Monster, and Supergator. I don't think physics or any kind of science ever come into the equation. They're known for sci-fi camp and things on the level of ridiculousness of the 70s 'animals go bad and grow and eat people' movies like "Night of the Lepus" and "Food of the Gods". It's all so bad it's good.

@bphaines - I prefer my science-fiction with a little more emphasis on the science or alternatively, the complete opposite, an acknowledgement that inconsistencies are due to magic.

This, incidentally, is what was wrong with "midichlorians" in Star Wars Phantom Menace.  It took something that was magic and then tried to explain it as science.  This is generally a bad idea unless you're really, really good at it.

@The_Hawkins - That's why there's the "Sci Fi Pictures Presents" warning label on all their movies. It's so people who take their Sci Fi seriously can run in the opposite direction instead of twisting themselves into knots over the horror of it all. It's the same reason my husband doesn't let me go to see comic book movies he knows will piss me off by being diasatrously character destroying. Because it's not something worth getting worked up over. :)

@bphaines - I don't watch enough "Sci Fi Pictures Presents" to have realized the significance of that label.  I have heard in general that some separate Sci Fi or "skiffy" from SF or "true" science fiction.  I don't limit myself only to hard SF, but I'm not a big fan of giant mutated monster movies.  Dragons would be one thing (they're clearly magical), but giant sharks bug me somehow.

I thought it looked pretty deliciously awful, and I can't wait to send it to my friend Josh who lives in LA and does movie special effects.

Sharks attacking planes. Just wow :)