Yeah, it's bad because they don't do a very good job pretending to hit each other (Tony Jaa has set the bar very high, by actually hitting people), but it did have some interesting ideas thrown in there. Like the slow-mo face hits, which I've always wanted to see in a film, Matrix: Revolution just did it recently and Cowboy Bebop before that, but I didn't know this movie "beat" them to it. Not sorry for the pun.
I agree Agent Back Smith, action films need to bring back the pacing, excitement, and imagination. DTV films really need to bring that back, no matter how silly it is.
edited to fix Smith's name, sorry about that.