#Java 8, 141 136 134 bytes

s->{float q=s.split("!",-1).length,n=new Float(s.split("!")[0]),i=n,r=n;for(;--i>0;r=q<3?i*r:q<4?i+r:q<5?i-r:i/r);return n<1&q<3?1:r;}

Explanation:

Try it here.

s->{                                // Method with String parameter and float return-type
  float q=s.split("!",-1).length,   //  Amount of exclamation marks + 1
        n=new Float(s.split("!")[0]),
                                    //  The number before the exclamation marks
        i=n,                        //  Index (starting at `n`)
        r=n;                        //  Return sum (starting at `n`)
  for(;--i>0;                       //  Loop from `i-1` down to 1
    r=                              //   Change the result (`r`) to:
      q<3?                          //    If `q` is 2:
       i*r                          //     Multiply
      :q<4?                         //    Else if `q` is 3:
       i+r                          //     Addition
      :q<5?                         //    Else if `q` is 4:
       i-r                          //     Subtraction
      :                             //    Else (if `q` is 5):
       i/r                          //     Division
  );                                //  End of loop
  return n<1&q<3?                   //  Edge case if the input is `0!`:
          1                         //   Then return 1
         :                          //  Else:
          r;                        //   Return the result
}                                   // End of method