Whoa - lotta hate for 'The Karate Kid' here!
While it's by no means a classic fighting film, the philosophies behind Miyagi's attitude and training techniques are spot on (A belt is only good enough for holding up your trousers/pants, not knowing if he could break a board because he's never been attacked by a tree!). While much maligned - the whole 'wax on - wax off' training technique (making a move become muscle memory before understanding what it actually does) is very similar to combat Tai Chi training and a superb way to introduce someone to the concepts that learning the Martial Arts doesn't mean just learning to hit someone.
In fact, the whole storyline arc of Daniel, a new kid in town, picked on my Martial Students under a misguided teacher (there are no bad students - only bad teachers) and wanting to learn to kick ass, only to discover that a Martial journey is a far more personal and productive path than just fighting is very indicative to me of a lot of Westerner's approaches to the Arts in general.
So while Daniel-San or Mr. Miyagi don't have the combat chops of Bruce Lee or Tony Jaa, philosophically speaking the movie is a good representation of Martial attitude, in my humble opinion.
I'm thinking this list was a while ago, as there is no Ong Bak up there... Surely one of the most influential fight flicks for a long time?
Peace! -D