Hey, teklord1!
That could be "Shogun Assassin" from 1980, it is based on the godlike Japanese manga "Lone Wolf & Cub"(highly recommended!).
In the scene I'm thinking of, the main character meets up with three(at least) evil hat -bearing assassins in the desert. When he disposes of one of them he delivers a "perfect cut" to the neck artery which makes it whistle, as the blood squirts out. The dying chap even says(or thinks to himself) that he is honorered to be killed by such a perfect swords technique! The movie contains lots of blood and a narrative voice which might be the main characters thoughts(can't remember).
http://www.imdb.com/title/tt0081506/