I have fond memories of "The Crimson Pirate" from my childhood, but I don't dare watch it again, so I have no idea whether it holds up to viewing now.
"Cutthroat Island" was critically panned, but I thought it was an OK-ish action movie.
"Treasure Island" (1990 version). Never released on DVD though, for some reason.
"The Princess Bride" is a bit outside the genre, but one cannot talk of pirates without mentioning the Dread Pirate Roberts.