Combine Poe's "The Masque of the Red Death" with Fellini's La Dolce Vita, persuade most of your actors to show off their peens, then stage the whole thing as a '30s musical revue. You might end up with something like Vice Palace, but you'll be lucky if your version is anywhere near as much fun to watch. Thrillpeddlers' latest revival of a musical by the Cockettes — the ragtag band of gender-fucking misfits who enjoyed a brief heyday in San Francisco from 1969 to 1972 — isn't quite as solid as Pearls Over Shanghai, the company's long-running foray into psychedelic burlesque. But it's still a good-natured evening of minimally polished, unapologetically trashy entertainment. (If you're uncomfortable with the prospect of seeing a naked dude pull decorative ribbon out of his ass, then you might want to choose another show.) Vice Palace was the last musical performed by the Cockettes before the troupe disbanded, and some of the numbers demonstrate a cleverness, even a compositional maturity, that wouldn't have been out of place when Cole Porter and Jerome Kern ruled Broadway. Of course, Cole Porter never wrote a song called "A Crab on Uranus." Oh, well — his loss, I guess.