This is a pretty old movie (2002) but it was recently on channel 4 and I had to rewatch it. What an amazing movie, wonderful storyline, epic fights and the music and cinematography blend together to be just breathtaking. It really puts to shame recent martial arts movies such as "The Forbidden Kingdom".
If anyone hasn't seen this I highly recommend you check it out http://www.imdb.com/title/tt0299977/.
Also another wonderful martial arts movie with Jet Li is Fearless.