I think T2 is still better than both on pure action alone.
Nah. I don't think Cameron gets there. I don't even think T2 is Cameron's best action film. That's still ALIENS (which isn't even a 100% action movie, honestly)
I think last time I did a list like this, it looked something like
Raiders of the Lost Ark
Die Hard
Road Warrior
ALIENS
Predator.
I don't think I'd change it, looking at it now, and that's even having seen things like The Raid & Dredd in the meantime.
In fact, if we had to do the bottom 5 there, I think I'd go
Drunken Master II
The Matrix
T2: Judgment Day
The Good, The Bad, The Weird
Hard Boiled
Although that could/would likely change if you asked me again some other day. Because that's still leaving off The Raid, Fast Five, Casino Royale, Dredd, Temple of Doom, Police Story, etc. etc.
So if Fury Road slots itself ANYWHERE in that top 5, it's dislodging some fucking BEHEMOTHS in the genre. That's saying something.