Saw the movie yesterday and I'm really glad I did despite the incongruity of the title. As a fan of the original movie and the first sequel I felt like this movie was sort of a combination of those two stories while at the same time bringing very much its own thing to the mix.
The performances were great, the martial arts and philosophy were also. I loved Jackie Chan in this role. Not meaning to slight his classic movies at all but just in terms of character this might be my favorite part I have ever seen him in.
I'd encourage fans of the original to give it a chance and don't view it as a replacement of the original Karate Kid films but rather a modern extension used to tell that timeless story. Because at it's core the movie is about a kid and his relationship to a mentor who teaches him something from another culture so that he can not only overcome his fears but grow as a person.
By combining the two and having the primary story of the original taking place in Asia this is even more emphasized. Foreign cultures may seem strange and alien but if we're willing to really look we can learn something about ourselves.
Through this, the mentor grows as well. Also both this and the original films were willing to talk about the very important idea that getting off on beating people up is notthe point of martial arts.
Karate or Kung-Fu the heart of the thing is still the same and that was the one thing I really feared this film would be missing. But it not only has it, it has it in abundance.