I mentioned this one briefly here before, but I wanted to include it in Ugly Flicks.
This one is a must-see for martial arts fans. It has an engaging story, great action scenes, beautiful cinematography and wonderful acting and directing. I rarely watch a movie twice - because I want to watch as many great movies as I can with the time I set aside for movie watching - but I did with Hero. I saw it two years ago on a DVD from a Chinese friend and then in theaters when it was released in the US this past summer. Supposedly Quentin Tarantino is responsible for bringing this film to the USA:

When MiramAxe is backstabbing Hero, Quentin Tarantino is coming to the rescue. According to Fangoria magazine, Quentin Tarantino has been pushing MiramAxe for a release in North America and he will be "presenting" Hero in New York and Los Angeles this June. He told the magazine, "I had to fight for it with Miramax. I think they lost faith in it and everything. And I thought that Hero was an absolute masterpiece, so I fought with them not to cut it. Not to bring it down, but to keep it the same length as when I saw it. And finally they agreed if I would present it. So I got in touch with Zhang Yimou and he was cool with that. Yeah, he was as happy as a clam. So that's what I am doing—it's pretty much what I did for Iron Monkey."

Quentin Tarantino is my hero for bringing martial arts movies to the mainstream by presenting Iron Monkey, Hero, and directing the Kill Bill movies. His next movie is going to be a kung fu flick completely in Mandarin:

"My next movie is gonna be another kung fu that's gonna blow your asses off. The next movie will be in Mandarin. I enjoyed shooting all the Japanese stuff in Kill Bill so much that this whole film will be entirely in Mandarin"