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Yes, the most realistic version of this movie would have Arnold playing God with Slystaff as Jesus and Joe king as the one who betrays him for a donut when he comes to doubt his 100m speed etc etc.
Or they could have Jackie Chan play the janitor who solves complex math problems ...and no one is surprised.
Pretty sure it's based on a true story. Side note: Kevin Sorbo was nearly Duncan Macleod of the Highlander TV series but Adrian Paul got the role