I watched High Kick Girl with my wife and a friend this weekend. It's from some of the same people who brought us Black Belt, and had a very similar action style.
Quick synopsis: very talented Japanese schoolgirl karateka wants her black belt to prove she's strong to her teacher. Doesn't get it, so she runs around "black belt hunting" - beating the crap out of much bigger, stronger practitioners to take their belts. Does more stuff to prove she's strong, gets in trouble, her teacher saves her.
The plot was... eh. The dialogue was more eh. The acting? Eh.
However, the movie was fantastic if you love traditional karate. Why? First, the action scenes were splendid. Second, the training sequences and background scenes had some unbelievably beautiful kata demonstrations. Basically, I was foaming at the mouth throughout this stuff, while my wife and friend were somewhere between mildly entertained and bored by it all.
If you loved Black Belt, check out High Kick Girl. If you were bored to tears by Black Belt, stay away.