A hero-type cop named Murphy is transferred to a new precinct and immediately gets himself killed. This is the perfect opportunity for an ambitious executive to take the initiative and use Murphy's body to build a cyborg cop as a replacement for a malfunctioning robot that was his superior's pet project. The cyborg, called Robocop, works out pretty well, but somebody's pissed about losing his robot project. And at the same time, the police are threatening to go on strike.
It may be an action movie, but it's also a very funny social satire. Sitcoms, corporate politics, TV news shows, the snob appeal of cars with lousy gas mileage, and a whole lot more are attacked with a surprising viciousness.
And it's violent. The gore in this thing is pretty intense. One guy gets his hand blown off with a shotgun. Another gets soaked in toxic waste and then gets hit by a car and liquefies.
On top of all that, it's an amusing story with a good pace. It may not be a classic, but it's pretty damn cool.