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Hard to say, because some movies might not count as "martial arts movies" - Several hold a place in my heart for different reasons.
The One. - It's cheesy, sort of in the vein of Demolition Man: it's corny, but so cool in a way. It's not Shakespeare. But I find myself going back to this one quite a bit.
There's The Matrix.
Drunken Master, Who Am I, etc. I specifically enjoy the old dubbed Jackie Chan comedic action films. Who am I - The Clog fight scene. I think Operation Condor is more memorable for me - I think the towel dropping fight scene (I think it's operation Condor... can't remember) is pretty funny. There's some old school slapstick in there; where these two women both have different parts of a gun, and they keep throwing each other the different pieces and they switch back and forth... or how Jackie uses Carol Cheng's towel (and Carol in the towel) to fight the bad guys in the hotel room... I can't get through a list like this without giving some love to Jackie Chan. I kind of hold this sense of nostalgia for his smaller / less known / older films.
Many of Chan's film scenes especially are shot with a quick style, some parts sped up... it's a lot like Buster Keaton, Harold Lloyd, and it reminds me in many ways of "Evil Dead 2" with a lot of prat falls and kind of this fast paced, "screwball" style of comedy (these are all things I love).
Teenage Mutant Ninja Turtles; Live Action; either the first or second; and I would name the 2007 animated one as really well written and well animated. It has some fun sequences, too.
Shaolin Soccer (2002?) Just weird... but a lot of fun.
Undefeatable - Cheesy... but the final scene is worth it. It's hilarious.
I grew up on a lot of weird cheesy B Movie type stuff. Action, horror, comedy, etc. the Kung fu films are a tiny piece of that. I don't really keep up on it, and it's not my favorite genre, but I love certain things from certain movies; so I could be misremembering certain film names or actresses, so take it with a grain of salt... but these are the ones that spring to mind.