I'll have to throw my vote in for ID4 too. Will Smith kicked much ass in that movie.
TMNT is also an honorable mention. I just love those little green dudes and their little rat sensei. It mixes a good bit of action, humor, and drama in a nice little package.
I also have to throw in a vote for Phantom Menace. Yes, that kid's tone of voice got on my nerves a bit. Yes, his part in the ending space battle could have been a lot better, a lot more dramatic, and a lot more of a nailbiter, the way the ending battle in the first Star Wars was. And yes, I wish that kid's story tied in more with the backstory of the first movie -- Obi-Wan did make a great deal of Luke's father's ideals and the fact that his uncle didn't hold with them.
But I loved the podrace sequence, I laughed my ass off at Jar Jar Binks (whom everyone on this board seems to despise and wish a thousand deaths upon), I didn't think the midichlorian thing was that big a deal (just a "scientific" theory that died with the Jedi before A New Hope started), and I loved the two-on-one lightsaber melee with Obi-Wan and Qui-Gon Jinn vs. the ultra-badass Darth Maul.
You may hate me now.