Lots of great suggestions here. Story Of Ricky and Shaolin Soccer in particular are absolutely not to be missed.
Add A Better Tomorrow 2 to the Chow Yun Fat list. It is so insanely over-the-top. And great.
Bruce Lee’s popularity probably means you’ve already seen all of these, but in case you haven’t, immediately check out: Enter The Dragon (holy shit is this not a given by now?), The Chinese Connection (the worse dubbing I have ever heard in my life, but I think it’s hilarious rather than annoying, plus the action is way-badass), and Return Of The Dragon (good fight with Chuck Norris in a fantastically-out-of-place coliseum, and maybe I was drunk or something when watching it but I vaguely remember laughing my ass off at how pathetic most of the bad guys were).
I can’t add to balut’s Jet Li list since the only other one I’ve seen is Romeo Must Die, which is okay but not too memorable. Anyway, Jet Li usually can be relied on for awesomeness. Same with the Jackie Chan stuff - I’ve not seen any of his Hong Kong movies aside from the Drunken Master series, although they make me want to see everything else he’s done because they’re damn good.
For old-school cheesy-yet-wonderful kungfu mayhem…
(note: these first four were part of a “Wu-Tang Forbidden Treasures” series - Best Buy was selling them for $9 a piece and I went to town on them as it’s hard to argue too much with that price)
The Massive - starring Chi Kwan Chun. Like 5DV, the actually good (by action movie standards) story almost overshadows the action. Unlike 5DV, instead of relying on ridiculously contrived “fighting styles”, it relies on ridiculously contrived weapons.
Golden Killah - again, Chi Kwan Chun. Another “Wu-Tang Treasure” deal here, and while the story isn’t as interesting, the action is almost as good. It suffers in one really bad sequence where a hidden bad guy dangles what look like flaming marshmellows from a stick and slowly moves them in the hero’s direction in what has to be the most pathetic assassination attempt ever, but in a way it’s kind of amusing. Apart from that, it’s a steady stream of punches and kicks, and then some more punches and kicks.
Iron Monkey 1 & 2 - starring Chen Kwan Tai. There’s another Iron Monkey series that’s much more recent, starring Donnie Yen, and it’s pretty good. But I have a soft spot for the original and totally unrelated ones from the 70s. The first is nothing special, but the second has a couple of great over-the-top fights and some wonderfully bad dubbing.
Return Of The 5 Deadly Venoms, aka Crippled Avengers - another Shaw Brothers flick that does not suck. In fact it’s honestly better than 5DV on almost every level. I have yet to find Destroyers Of The 5 Deadly Venoms, but I’m about to just break down and order it online because I’ve heard it’s even better.
Shaolin Master Killer - starring Gordon Liu. Best pure (that is, no wires) action I’ve seen in any kung-fu flick not starring Bruce Lee. Or maybe it uses wires - who knows, but at least it’s not incredibly obvious here.
Finally, GYMKATA! Kurt Thomas is a gymnast turned kung-fu master. Need I elaborate? It’s transcendently brilliant.