I saw a commercial for something similar where each installment would cover a different decade. Seems like it started with the 40s, but it very well could have been the 50s. It also seems like Jimmy Hart was hosting it, but I could be confusing him with someone else, as well. (Yeah, I know, how the hell can you confuse Jimmy Hart with someone else?) Not that that helps any, since I haven't seen it, but if you're one of those people that has to see every installment of something, skip it unless you want to spend $50 or more.
I'd get it if it's cheap. I have this tape of old matches from the 50s and 60s, and it has some really good stuff on it. This doesn't sound like it would have very many matches, and they would be far from complete, so it might be better to wait and find out more about it.
Chavo was Pancho Villa. As Cubs mentioned in his recap, I also thought it was Bill DeMott in the tye-dye shirt & viking helmet (which seemed to rotate to different jaunty angles as the party progressed.)