One of those Shaw Bros films that relies solely on a single idea or concept to differentiate itself. The titular iron flags are the weapons of choice for the good guys, the martial arts scenes are all built around the tricks and attacks that can be executed with them. Apart from that, this is your standard, expected Cheh Chang production.
The Iron Flag Clan and the Eagle Clan are age-old rivals. When the Eagles get thoroughly beaten by the Iron Flags, they want to call a truce. It's really just a trap to mess with the Iron Flags. To keep the peace, the Iron Flags agree to send away one of their strongest fighters. He discovers what really happened to his clan and vows to set things right.
Deceit, revenge and martial arts, the classic ingredients for the most core Shaw Bros films are all present here. The weapons add something new to the action scenes, but I wasn't too impressed with these somewhat unwieldy weapons. All that remains then is a simple but somewhat amusing film, fun for fans of the studio, others can probably skip it.