The Five Deadly Venoms: This movie was awesome. It's totally kitsch, but done in a way that works. It's to karate flicks what Batman the TV show was to Batman the character. Still, it's completely kick ass. Plot? Shogun's Ninja: Sonny Chiba plays a badass Shogun who... whatever, I don't recognize this movie for story or plot, but just for the great fighting scenes set to mismatched 70's porno music. Take a look:
The original Five Deadly Venoms was good and one of the most influential classics in the genre, but I think the later films starring the Venoms were a considerable improvement. The actual choreography and fight scenes in the original weren't all that spectacular. However, I loved the survey of various Chinese torture devices and cruel and unusual killing techniques. It's not a kung fu film since that martial art didn't even exist in Japan, but I'll second this as an absolutely amazing action movie.
Lost my Kung Fu flick virginity the other night. I was kind of baked and bored out of my mind when I saw that "Way of the Dragon" was on G4. I never really understood the point of Kung Fu movies either, and I was only able to see the last hour or so of the movie, but watching Bruce Lee fight Chuck Norris was pretty fucking sweet. Not as sweet as Chuck's back hair though, goddamnit.