Many good actors have done a stint as a villian in a move. This is a list of good actors who played a suck-ass villian. Sadly there are quite a few of them.
http://www.ranker.com/list/good-actors-and-actresses-who-sucked-as-villians/dismalhead,
Al Pacino in Dick Tracy
Gary Oldman in Lost in Space
Danny DeVito in Batman Returns
Possibly the worst of all time, the Penguin in Batman Returns wasn't scary, just plain gross. Played by Danny DeVito.
Michael Ironside in Highlander II: the Quickening
The train scene says it all. Painful to watch.
John Lequizamo in Spawn
John Travolta in Battlefield Earth
Kenneth Branagh in Wild Wild West
Dennis Hopper in Super Mario Brothers
Jeffery Jones in Howard the Duck
Samual L. Jackson in The Spirit