I don't know if it is action, but I think it is because it has a lot of shooting in it. But I would say Gran Torino. It is such a great movie with Clint Eastwood. I recommend for you guys to see it.
This is tough...I'd have to say the original Mission Impossible. It set so many standards for action films that it has to be considered one of the greatest, whether Tom Cruise is an idiot or not.
That wasn't the point back then! In "those days" people watched James Bond and got exited, tense and anxious when someone was doing anything. Just like these days, when "the other generation" watches a modern James Bond. I think It's like looking back on old pictures of yourself...
The Forbidden Kingdom was a great movie! Action AND comedy!