Jet Li will not be making anymore "philosophical" movies with traditional Wushu (OUATIC, Fong Sai Yuk, Hero, Tai Chi Master, etc.) In those movies, notice the style of fighting (lots of jumping, weapons, using normal objects as weapons, flying with wires, posing and stances, etc.) that is what he is getting away from and will still do action/fighting movies. He is going to concentrate on upping his acting ability and believes that there is nothing more in the sport of Wushu that he can show.
As for
Wushu, it is a sport, the national sport of China. It is a specific style/discipline of kung-fu, just as Bujinkan Taijuitsu is a specific style/discipline of karate. An analogy of the difference between Wushu and kung-fu would be kung-fu=Motion Pictures/Wushu=action movie. The word karate, is just the Japanese version of kung-fu, both are just the main group that all styles belong to.
The characters that make up the word Wushu, when broken down completely, mean "The Art of Not Fighting"
I haven't made a purchase from DDDhouse in a while, but this will be on its way the day they list a version with English subtitles, the current version only has Chinese subs. I hope the trailer is still playing with X3 when I go see it Monday.