Any movie that looks like (and judging from the reviews) is a hybrid between Ong-Bak, Die Hard and Hard Boiled is worth my time.
BTW, I've set up a page:
http://www.imfdb.org/wiki/Raid,_The
I can't say for sure, but my guess is that practically all of the weapons in the movie are airsoft guns, with muzzle flashes added in post-production.