The combatants: Jane Wyman (!) and "Sexy Alexis" Smith. (We have to remember that the normally demure Wyman later got out her claws in Falcon Crest -- albeit she never wrestled anyone on that show. Anyway, both ladies are in top form.
The bystanders: Bing Crosby, Franchot Tone, a host of character actors, and a funny old lady.
Enjoy!