I immediately stopped watching that movie when that happened. I was like, "I just can't do this anymore. I'll be on the computer."

Isn't that like, in the beginning? =P

Because the rest of the movie was oh so believable?

And frankly, you can substitute 'other action movies' for 'the rest of the movie' in my opening line (Not least the first Indy movies)...

Go back to Raiders. Exactly how long was Indy on the side of that submarine?

Depends how far you're prepared to suspend your disbelief. "He held his breath for rather a long time" vs "He survived a point-blank nuclear explosion." And it's not like the film improved after that :)

Well, i think that surviving a nuclear blast inside a lead-built fridge is a little more believable than, say, having hundreds of kids working in a lava caldera without them burning, melting, or at least asphixiating.
Or perfectly working stone-age technology after millennia (they built to last).
Or...

Really, the only difference with the other indy movies is that it shifted from magical man-made artifacts to magical alien-made artifacts. And an older Indy.

@ Brasson:

"Go back to Raiders. Exactly how long was Indy on the side of that submarine?"

Actually, most subs of that time that had to cover long distances traveled on the surface just like regular ships. It was both faster and more efficient, because they didn't have to keep juggling the batteries while they couldn't run the diesel engines. Most subs at the time submerged only in combat or patrol situations. So, it's not hard to believe the idea that he hung on to the side of the sub while it traveled through the Aegean because there's good reason to believe that it never dove.