It wasn't the most recent movie I've seen, but a couple weeks back I watched Mad Monkey Kung Fu and it seems to me that martial arts choreography from the old Shaw Brothers days holds up pretty well. I'd certainly take it over the hideous garbage you see in a lot of modern stuff coming out of China, with the heavy use of computer graphics and Matrix-style slow motion. The cheesy obviously fake sound effects kind of get on my nerves though, my only complaint about the old stuff. The fight choreography of The Raid movies were astounding however, best of both worlds.
I forgot to mention Black Sheep as another example of fine New Zealand filmmaking earlier. Whoops.