I watched it for the first time the other day on "Turner/Classics" and it wasn't as bad as it was portrayed for the last 60+ years. If Hollywood didn't spill the beans about Legosi dying during the movie and his character portrayed by a unknown with a cape it would have gone down as another low budget 50's saucer exploitation movie not unlike the 60's low budget exploitation beach movies.
There are a number of different cuts of the movie. It was shot in 1955 and had a private preview in 1957 after which it was re-edited and titled "Grave Robbers from Outer Space." It wasn't picked up by a distributor for another year in which it was re-edited and copywrited. However that distributor folded. It was not actually released till 1959 by Valiant Pictures. The film's name had concerned its backers, two local Baptist ministers, who objected to the "Grave Robbers" part of the title. They reportedly considered the direct reference to grave robbing to be sacrilegious, so Wood changed the title to "Plan 9". After it was released to the public, Woods felt the title was not descriptive so he changed it to "Plane 9 from Outer Space" and several scenes were edited out It was then released on a double feature bill with "Devil Girl from Mars". After it had made the circuit of the drive-ins, it was sold and cut to 60 mins for late night horror movie shows I wonder what version of the movie appeared on TCM. Wood's first cut was 1hr 40 mins but was released to theaters at 1 hr 20 mins.
Did you see the movie "Ed Woods" staring Johnny Depp? It was a comedy, biographical film about the director Ed Woods and Plan 9 from Out of Space. It was fairly entertaining but not really an accurate biography.