As I mention below, parkour is not actually "flashy". From Wiki:
However, the term free running has come to represent a separate concept, distinctly different from parkour — a distinction which is often missed due to the aesthetic similarities. Parkour as a discipline emphasizes efficiency, whilst free running embodies complete freedom of movement — and includes many acrobatic maneuvers. Although the two are often physically similar, the mindsets of each are vastly different.It's not just semantics; "real" parkour and free running are very different approaches to interfacing with the urban environment. This article clearly refers to literal parkour, not free running— a little confusing since the embedded video has a lot of flashy stuff going on that "real" traceurs wouldn't put up with.
If you want a better example of "real" parkour, think of the opening scene of Casino Royale. That guy (Sebastien Foucan, one of the "founders" of Le Parkour) was running away from a professional killer, he didn't have any time to stop and do a handstand. And yet the entire time that Bond is crashing through walls trying to keep up, Foucan is moving with speed, grace and elegance.