I saw this on TV as "World of the Talisman" and was pleased with it. Unlike most anime that was getting TV time in the late '80's, it was actually a stand-alone tale instead of something horribly cut down from a TV series.
I have no idea how accurate the translation was, though the 'electronic stutter' suffered by the main bad guy was pretty cute. As I recall, the heroes consisted of a man, a woman with a pet furry whatever (The TV Guide listed these as brother and sister, though even the translation didn't give any hint of that), a pair of moderately inept spacemen, and what seems to be an intelligent sword. The bad guys were a series of men or aliens in a variety of 'robot suits' (Like the power suits from StarShip Troopers), though they all had the same basic design. They all spend a merry hour and a half chasing each other about with an extreme amount of firepower, but no blood or sex (Probably why it was deemed suitable for translation to American TV).
All in all a pleasant distraction without any overbearing morals or messages to weigh it down.
Review by StlBlade from the Internet Movie Database.