i used to watch martial arts movies 24/7. i have a prediliction for jet li and jackie chan, and i own nearly all their movies in one format or another (mostly cheap vcd's from chinatown). i guess i'm also biased against the old school 70's styled kung fu movies, but practically all my favorites are from the 90's or 80's.
fist of legend - great remake of bruce lee's fist of fury. jet li is one badass mofo, and this is why yuen woo ping is one of the best choreographers around.
once a upon a time in china series - in particular the first and second movies. i'm not too fond of the ones where jet li did not star in. a movie about the legendary wong fei hung. great fighting, humour, romance, and historical references galore. i laughed, i cried, i tried to do the no shadow kick. what more could you want?
enter the dragon - bruce lee. nuff said.
fists of fury (some times fists of fury and chinese connection have the names switched) - bruce lee in a "you killed my master, now you must die" movie. just about ever martial arts star has done a remake of this movie, and there's a reason for it. (stay away from jackie chan's version. it's one of the most horrible movies ever.)
drunken master 2 - jackie chan as wong fei hung. his movies never really have a good plot, but he's got some of the greatest action scenes. what i like about jackie chan is that he always uses wires tastefully. you never see him fly around, but he uses wires in ways that look very realistic. with that said, this movie has some of his best wire work.