LA Confidential and Memento say hello. And, whilst I haven't seen it, I'm sure timmayy will trumpet The Proposition too.
Priscilla says hi too.
As far as good actors in bad movies....
Escape From LA
Kurt Russell, Stacy Keach, Steve Buscemi, Cliff Robertson, Pam Grier, Peter Fonda, and Bruce Cambell. Throw all of them together in a relocated Escape From New York with some crap special effects...and you get Escape From LA.
Also, Alien Resurrection. You have Sigourney Weaver, Winona Ryder, Michael Wincott, Dan Hedaya, Brad Douriff, Gary Dourdan, Ron Perlman and Leland Orser.
WHERE DID THEY GO WRONG?!