Are we talking just blow em up Bruckheimer/Michael Bay kinda movies, or one that actually has a story?
I honestly really enjoyed True Lies, has kick ass action, and is often hilarious at times. I also enjoyed Black Hawk Down, even though the story is true, the scenes are sick, and sounds badd ass on a surround system. Too many to name, but you can pretty much add any kung fu flick to the list, especially with jackie Chan and Jet Li.
Backdraft is also a great film for its near realistic fire sequences.
The freeway chase scene in this years Bad Boys 2 is perhaps the most realistic and obscene (in a good way) sequence filmed in a long time.