Roadhouse was a good 80's action movie but I went with more blockbuster ones. Roadhouse would be a good addition though, maybe MIA. I'm also partial to Running Man.
I always think of Terminator as more of a science fiction movie than a pure action movie. Terminator is my favorite of the ones listed, but when it comes to which is the best "action" movie, I'd say Die Hard is the best in that category.
Die Hard was awesome, but there was alot of good action films.
The Punisher with Dolph Lundgren (I think that was 80's).
Plus all the Seagal movies, Van Damme. Too many to think of.
Above The Law
Big Trouble In Little China
The Running Man
Die Hard was one of the best though. The reason why, "Ho Ho Ho Now I Have A Machine Gun" I had a tshirt made that says that and wear it every Christmas Eve