I like the idea of the "least schlocky 80s action movie" being a movie with a scene where a robotic cop enters a future disco (which is obviously playing bad 80s music in spite of it being "the future") and manhandles a bad guy, while the film's director dances around like a jackass as an extra.
Arrgghhh, you and John Milius make a good point about The Matrix....black suited heroes mowing down cops (and in the same month as Columbine!)....but as *entertainment* I don't think the movie was too bad and did a decent job with its storytelling and a couple of its concepts. But yes, horrible horrible influence. It was fun to see in theaters in 1999 before the tidal wave hit.