Black Rain
I'm not gonna claim this is up there with Ridley Scott's masterpieces, but despite its flaws I really, really like this film. As you'd expect from Ridley, it looks gorgeous (can't help but notice the obvious tip of the hat to Blade Runner in the neon-drenched Osaka scenery). Michael Douglas and Ken Takakura are excellent as the leads; there's an amazingly emotional dialogue scene between them in the second half of the film, made all the more notable by the fact it's not about a subject you'd traditionally consider fodder for such a moving conversation (but to say more would ruin a great plot twist). Something else I really appreciate is how Douglas' character is basically a complete dick on paper, yet he somehow manages to translate the part into a sympathetic performance. It's both a refreshing change from the norm and a credit to his acting.
Oh yeah, the score by Hans Zimmer is also excellent. And as an added bonus, this being the 80s, he wrote the requisite power ballad for the film. I really miss the days when every movie had a bunch of awesome songs written specifically for it.