Other then the 'trick bag' and the duel at the end, most of the track is recorded by Ry Cooder.
Check out the 'music by Ry Cooder' album, its basically pieces he wrote for other films including crossroads, "see you in hell blind boy" and "feeling bad blues" are amongst the others.
Although......Britney Vs Vai would be sweet, the Karate kid already kicked his ass.........