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I had heard my kids use the "Wax-on, Wax-off" phrase a couple times before I realized they had no concept of where it originates from. Fortunately both of my kids take an interest in Geek History. Who knows, maybe it will be taught in school some day, but until then I feel it is important for us to pass the traditions and culture on.
cheap economical father that I am, I checked Hulu to see if they’d added any of the Karate Kid movies and I hit the jackpot with The Karate Kid, Part Two and Part Three. They don’t appear to have the fourth movie online yet, but I think the first three will be sufficient to teach them that most sequels are worse than the original. Sometime this weekend we’ll be sitting down to family movie night and catching The Karate Kid free (with limited commercial interruptions).
[update] tony points out below there may be a remake staring Jackie Chan as Miagi. IMDB doesn’t list the movie yet so they can’t be too far into the negotiations.