I always thought True Lies was the greatest action film of all time. Great story, funny, and the action is great!

Some of my all-time favorites:

Leathal Weapon Series
Die Hard Series (ICB: You didn't like Die Hard 4?! I loved it!)
Rambo Series
Terminator 2
Bloodsport
Legend of Drunken Master, Wheels on Meals (Jackie Chan Movies)
Indiana Jones 1, 2, 3. Part 4 sucked ass! The ending KILLED it for me!
The Big Hit (Many don't like this, but I love this movie)
Teenage Mutant Ninja Turtles 1, 2 (Sorry, some childhood nostalgia for me. Plus it was sick how they pulled off those fight scenes with those costumes)