"One-Armed Swordsman" is an early work of Chang Cheh, the practical godfather of kung fu cinema. Without wasting any time with describing the plot I'll dive into what I liked and didn't like.
This one is chalk full of great themes: ascension to manhood, honour, revenge, jealousy, hatred, redemption. Fairly unique in this genre is the love story between Fang Gang and Hsiao Man, which is actually quite touching.
I found it interesting, when the rival clan threatens Fang Gang's former teacher and school, how he has to choose between the martial way (protecting his teacher, seeking revenge and entering the cycle of violence again), and settling down in a comfortable life with Hsaio Man. The idea that the only thing that can save the school is Fang Gang's broken sword, that his father left him upon dying, was poetic.
The plot has all the makings of a great martial arts film. Where the film falls down though, is in the badly choreographed sword fights and really cheap sets and bad lighting. The swordfights are often wooden and slow.
I ask anyone who has raved about this film here, to look at the choreography critically... it does not come close to the best in the genre.
Granted, the fact that it is an early work (1967) probably explains this, but still does not change it.