I tried to totally dislike this film. However, there are some things about it that make it bearable to watch. First of all, the acting is not bad. Secondly, this film is often unintentionally funny. The sets are laugh-out-loud poor, including the aliens using a tesla coil [yep, a tesla coil] to contact their intergalactic friends.
Director Phil Tucker was known for making low budget 1950's films, the best known of these is Robot Monster which is thought by many to fall into the "it's so bad, it's good" category of filmmaking. The Cape Canaveral Monsters may fall into this sub-genre of films as well. If you like 1950's Sci-Fi flix with pseudo science and ridiculous dialogue then you might actually enjoy this movie.
The Cape Canaveral Monsters is predictable nearly every step of the way. Yet, in spite of this, I cannot say it was a complete red hot mess. Give it a shot if you've got nothing else to do on a lazy Sunday afternoon. But don't expect it to be Forbidden Planet or Them! This is definitely their white trash cousin. You've been warned.
For more info check out the film's entry in IMDB.