You're forgetting the opening with Young Indy on the circus train, the awesome fight on the Coronado, and the sidecar motorcycle chase. So I'd say TLC had plenty of fun and memorable action in it.
I definitely didn't want to add that silly train sequence where Indy collected all his "traits"... nor the awkwardly staged fight aboard the Coronado, which to this day still makes no sense how it was choreographed -- how did Indy swing that far away from the ship when it blew? How did the ship not drag Indy down with it?
The motorcycle chase was good though, I give you that.