"...to jump off the balcony, catch the chandelier, swing across the ballroom, let go of the chandelier, flip in the air, and kick the BBEG in the head. How would you adjudicate this?"
Oh, that's easy.
I consult my map and notes, do a few quick looks at the SRD/PH in order to get the DC's right and then say:
DM: OK, you first need to make a jump check to reach the chandler. That's actually two checks, because there is a railing around the balcony, remember? There is no room to make a good running start, but first you need to make a standing jump up on to the rail. That's pretty easy, because you only really need to clear 2' because of your height - so roll a DC 20 jump check.
PC: 20? Yikes. *dice hits the table*
DM: Yeah, and you thought this was the easy part. Not getting a running jump bites. (FTR, We are using the modern D20 jump resolution system.)
PC: 11 + 13 is 24.
DM: You made it, you are now propelling yourself over the rail. The floor looks alot farther away than it did just a second ago. The chandleer is a good ways a way - DC 30 jump. Hope you make it, you are committed now.
PC (starting to sweat): Ok, shesh. *rolls dice* Come on baby, don't let me down! YES!! 19 + 13 = 32. Oh yeah, that's why I love this dice.
DM: Great, now you have to catch the chandeler - that's a strength check at DC 10 + plus your encumbrance level.
PC: (checks his sheet) I need to roll a 9. Man, this is harder than it looks in the movies. *rolls* Whew, a 9. Barely.
DM: You are now hanging from the chandleer swinging foward across the room. You don't have to let go, you can just hang around if you don't trust your luck any further, but you don't have that good of a grip.
PC: I got this far...
DM: OK, you need to perform a DC 20 tumble to execute a proper flying charge attack.
PC: Ahh, but this is were I shine. Three or better and I'm good. *rolls dice* 8+17=25
DM: Impressive. Most impressive.
PC: Time for a good swift kick to the back of old horny heads skull.
DM: Alrighty, roll to hit.
PC: *D20 clatters* Lets see, 15+13+2 for the charge is 30. That should do it.
DM: Yep, you just landed your foot dead center of his back.
Other PC's: Alright! Take that Lord Gherkin.
DM: (smiling) Too bad its only subdual damage, but just to be fun I'll let you execute a bullrush to see if Lord Ghertron stumbles a bit when your puny form slams into him (more dice rolling). Lord Ghertron roars with surprise and staggers foward 5'.
Other PC: Do I draw an attack of oppurtunity...
(more dice rolling while aoo are resolved)
DM: ...Now, you need to execute a DC 15 tumble check to soft fall, I believe that's auto for you, but you need another DC 15 jump check to avoid 1d6 damage since the balancony was more than 10' above the floor...
PC: (thinking to himself) Maybe I'll just pull out a bow next time.
Seriously, I hate when feats replace combat manuevers. Imagine if 'jump', 'dodge', 'fight defensively', 'full attack', 'disarm', 'trip', 'sunder', and everything else you could choose to do was restricted to those people who had taken the appropriate feats. Sounds like a lot less fun (not to mention potentially alot less tactical) to me. As the above example indicates, really flashy things are unlikely to come up often because they are just so hard to pull off at below epic levels considering the effect gained and the risk taken. I don't think the above PC is going to try that move again any time soon but he's definately going to remember pulling it off. OTOH, I can't think of a reason to play at epic levels if you aren't going to be doing this flashy cinematic stuff every chance you get.