Quick and Dirty Guide to the Original Flash Gordon Serials:

The first serial is probably the pulpiest and definitely the one most fixated on sex. The entire plot revolves around assorted aliens trying to score with Flash and Dale.
Where's Dr. Zarkov's sugar?
FLASH GORDON'S TRIP TO MARS (1938) is the strongest of the three serials, with Queen Azura holding her own as the chief antagonist until Ming the Merciless makes his inevitable entrance.
This serial also has the most Star Warsy elements, with swinging from ropes and whatnot. And things get really fun when the villains inevitably turn on one another.

Unfortunately, we do get some aggressively unfunny comedy relief from (sigh) Happy Hapgood.
FLASH GORDON CONQUERS THE UNIVERSE (1940) is the weakest entry but it is not without its pleasures. The Purple Death plot is endearingly goofy.
Flash Gordon's cinematic look was always a combination of original costumes and whatever Universal had lying around. By 1940, Orientalism was out, Robin Hood was in.
The biggest change was the recasting and rewriting of Princess Aura. In the 1936 serial, she was a villain-turned-hero who wielded a mean raygun. By 1940, she was a bland damsel. Unforgivable.
They also made Buster Crabbe put on pants and wear a shirt.
Ming is back as the main antagonist, of course, and is assisted by the ever-faithful Captain Torch (I hear he's very bright) and Chris Pine's grandmother.
My theory is that the MPPDA missed all the very un-Code-friendly shenanigans in the 1936 serial because they thought it was for kids and brought down the hammer for subsequent serials. Oh well, it was fun while it lasted.
All three of these serials have their delights, though.

I do recommend NOT binging, though. They were meant to be seen one at a time with a breather in between and they still play better when viewed this way.
Honorable mention to BUCK ROGERS (1939), which borrowed Crabbe and much of the look of the Flash serials. It has a stronger plot than most of the Flash eps but Killer Kane is no Ming the Merciless.
It's a rather fun serial and equals the best of Flash. I also appreciate the casting of Philson Ahn as the non-stereotyped Prince Tallen of Venus.
Buck debuted before Flash but all Buck screen adaptations owed a lot to Flash. Kind of like how all Flash adaptations now owe a lot to Star Wars. Master the pupil has become.
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