Best Medieval Movie Ever

It's kind of funny how this movie is often cited as proof that Hollywood can make realistic medieval flicks when it is but another exaggerated take on the era.
Until the 1990s everything medieval which American film studios made was nice and shiny and romantic; beginning with Flesh + Blood they went to, well, flesh and blood, dirty mugs and brown rags.
Here's the thing, though: Flesh + Blood is to be taken with a pinch of salt. If it does depict any given era in a somewhat accurate manner, it would be about the time of the Thirty Year's War i.e. the early 17th Century. When it comes to the actual Middle Ages, which by scientific consensus began about the time of the Vikings' rise (i.e. the definite end of tribal migration and the re-emerge of cross-border trade) and ended with the Year of Reformation in 1517 (at the utmost), "nice and shiny and romantic" is all in all a more accurate version than brown rags*.
The dark image of that period of time was by and large painted by protestant authors seeking to discredit the previous sovereignty of the Catholic Church as an era of violence and hatred. While famine and disease indeed cost many lives in medieval times, ecclesial registers of death offer proof that in some centuries actually less people died from violence than do today.
It wasn't until the ~1550-1650 centenary of religious conflict and peasant revolts that every war in Europe would turn into one giant massacre.
Another contributing factor to that kind of development was the emerge of mercenary armies, by the way. While a liege lord could simply command his vassals' loyality and they would often try not to lay destruction to everything in their path (which is a stupid thing to do for a conqueror, as a burnt countryside and slain peasants won't generate income) mercenary armies were often paid with promises — and unleashed to vent their anger on a hostile population whenever said promises could not be fulfilled.

What I'm saying is, if you want a realistic portrayal of the actual middle ages your search can't stop with F+B, at least you shouldn't take every image as rock-solid historical accuracy.
If you want a somewhat gritty atmosphere and fair degree of accuracy, I can only say that my HEMA instructor (Ph.D. in history and politics, 30 years of experience) thinks one of the most accurate "sword 'n' shield"-movies image-wise is Luc Besson's Joan of Arc (minus the fact that the French filmmaker decided to exclude guns and cannons from featuring in his film).

*) A funny thing about brown rags: Most of those joyless peasants we see walk about in the movies clad in brown couldn't have ever existed. Brown leather was and is rather expensive to come by, and brown linnen or flax even harder. People most likely looked like they do on actual paintings and book illustrations from the middle ages, i.e. they dressed in lively colors. Blue, red and green dyes were fairly easy to produce and acquire.