Ah, now this is the movie that Patton Oswalt was talking about. It's really quite bad, consisting mostly of ponderous voiceovers by a haunted painting of someone suspiciously like Aubrey Beardsley while the bed, indeed, eats people. I mean, it's interesting that the bed has an actual digestive system, but it doesn't really make for a whole movie.
The shot of a man with the flesh removed from his hands is as entertaining in context as it is excerpted.
Really, the most interesting part was the writer-director's introduction. Apparently he made the movie in 1977 on, I think, 16mm. But they couldn't get the money together to blow it up to 35mm, so he got on with his life and essentially forgot it existed. Then, decades later, he was on a cult movie message board and read a question by someone asking if anyone remembered this movie, which he immediately recognized as his own. It turns out it was bootlegged on home video by someone and then showed up in various other countries. And I guess he still had the film cans in a closet somewhere and was able to get a DVD release a couple of years ago. Good for him! The movie's still terrible, though.