Ip Man contains lots of kung-fu, but it is more story oriented and most fights (except for at the beginning) contribute to the story line and to display Ip Man's character. I was concerned at the beginning of this film because it looked a bit cheesy. The cuts and the dialogue reminded me a bit of those made-for-tv movies from the 70s, where all characters have a couple of lines, just enough to introduce plot points and nothing about characterization. But about 30 minutes in, when the Japanese invaded China, it started to gel and looked better. I didn't know much about Kung-Fu in spite of having grown up watching Bruce Lee, so I didn't know there were different types and schools. The film was a nice little introduction to Wing Chun, although I wish we had seen Ip Man teach the principles behind this school, and what differentiates it from others. Granted it is nothing I can't google, so I can't fault the film too much for that. Perhaps Ip Man 2 focuses more on those elements, given that it is about him establishing a school in Hong Kong.
The film isn't great, and I think it is a bit overrated on IMDB, but it is good. I'll watch the sequel.