If you're reading the above, you're probably figuring this sounds pretty lame.  In a way, it is.  But the entire movie is executed in such a way that you almost don't care that there's no story.  There is a ton of action, in the form of kung fu fights and Matrix-style wire work that lends a "much larger than life" aspect to it all.  There is quite a lot of humor (some of it perhaps unintentional) in the less-than-stellar acting, the Warner Brothers cartoon-style chase scene between the landlady and the young con artist, some great effects of "nearly invisible" flying knives, and some dance numbers that seem a bit out of place but somehow just "work" in the movie.

I found myself laughing out loud at several parts, and finding it very hard to take my eyes off the screen (kind of like that natural need to look at a train wreck). 

I'm not sure I can explain why, but I think this may be one of the coolest and most interesting movies I've ever seen.  It's campy in places, flat-out weird in places, plain silly at times, and yet somehow it all works and becomes a true work of art.  My advice for someone watching this for the first time is to pretend it's a cartoon from overseas, played with live human actors.  This should put you in the right frame of mind to enjoy it.  Don't look for character development, a fleshed-out plot, or for parts of it to make any sense at all.  Just enjoy it.

I had such an incredibly good time watching this that I have to give it about an 8.5 out of 10 (where 10 is excellent).  I'd rented it from Netflix, but I think I'll be buying it after I send it back.  It's that entertaining...