Arnold is looking a little worn - but he's still the man. I think it was that chest surgery that took a little out of him. On the special features section of the Collateral Damage DVD (A great film, IMO), theres a scene where he comes out of his trailer and strikes a pose for some fans, and damn, he's still got it all right. The thing is, in the new films you dont really see a lot of him with his shirt off, and that's what makes the movie!
Hercules in NY was actually pretty good!! Horrible production, but Arnold was funny as hell in it. I love it at the end of Pumping Iron when he takes a hit of the joint

All the obscure ones are cool, they were made back when he was so huge.
As far as T3 goes, Im a little skeptical...It sucks that Linda Hamilton isnt going to be in it. People who have read the script say it rocks, though. There's actual a final Conan sequal in the works. Now THAT should be interesting. Id like to see some more movies where hes just kicking ass and taking names.
Remember Red Heat and Raw Deal, they real good too. Hell, I like them all. The ones I like a lot are the ones Ive seen 30 times
BigV