I would say the best works came out after Ninoy's assassination, from Scorpio Nights (1984), Hinugot sa Langit, Boatman (1985) to O'Hara's Manila trilogy--Condemned (1984), Bulaklak sa City Jail (1984), Takaw Tukso (1986), and Bagong Hari, which came out at the very eve of the EDSA Revolution, and ended (to my mind) the '70s and '80s Golden Age of Philippine Cinema. Not a big fan of either Sister Stella L. or Kapit sa Patalim (both 1984), but I'll freely admit they were the most outspoken of the political films, at a time when it was truly dangerous to be political.
These post-Ninoy, pre-EDSA films were some of the darkest, most violent, and most nihilistic to come out of the Philippines, and for once the filmmakers had the artistry and skill to give full vent to their pessimism.