A wide-ranging and carefully considered list of the top 50 special effects shots in movies. The Matrix bullet-time effect doesn't make this list because:
An effect extraordinarily limited in what can usefully be done with it, it has nonetheless been flogged to death in the 10 years since The Matrix.
The Burly Brawl from the second Matrix movie thankfully didn't make the list either, likely because the whole thing looks like a cartoonish video game (and not in a good way). The only quibble I can think of: maybe Titanic should have been on there somewhere? (via fimoculous)
Update: Titanic actually made the worst effects list. (thx, rob)