Gnu, That line was from the 1965 Blake Edwards movie "The Great Race". It was spoken by the evil Baron Von Shtuppe (played by Ross Martin) as he ducks out of the duel with Leslie (Tony Curtis) when it becomes evident he's losing. He leaps to the open window sill in the high tower which overlooks the moat 50 or 60 feet below and throws his sword at Leslie.

Leslie: (parrying the sword away easily) "Running away Baron?"
Von Shtuppe: "A very wise Englishman once said He who fights and runs away, lives to fight another day Farewell, Leslie. I have a boat waiting."

Then the Baron dives out the window and crashes through the middle of the rowboat waiting below, splintering it to kindling.

Still love that movie. A Classic.


Another great exit line:

"Here's a quarter. Go downtown and have a rat gnaw that thing off your face! Good day to you,madam."
    ~ John Candy in Uncle Buck (the only good scene in that movie)