I could be wrong, but the only videos I think are really in the running for best 2005 MEP at this point are AMV Hell 3, Animasia and Reflections of Style 2.
AMV Hell 3 is certainly funny, but it's not consistently funny. There are plenty of segments in it that are clunkers. Also, I found the logos annoying. Most of them were way too big and/or too far from the corner of the screen. It was like having someone yelling "THIS SEGMENT WAS MADE BY [insert editor's name here]" over and over again while I was trying to just sit back and enjoy the video. Janzki and bad martial arts were the only two editors I can think of who had logos that were both small and positioned close to the corner of the screen. Anyway, I didn't even see that those logos were necessary. The closing credits gave credit where credit was due. That should have been enough. (Great closing credits sequence, by the way. I loved the song and really enjoyed the re-editing of Shonen Bushido.)
Animasia was a nice diversion and a welcome change from the norm, but I think I might have set my expectations for it a little too high. It was good, but I would have expected such a long development time to yield something considerably more impressive (no offense). Part one was bogged down by the FLCL segment. I did understand what was being done with that segment and I appreciated it, but even so... way too long. If the other clips had been similar lengths, it would have been fine. But as it is, the FLCL segment is so much longer than the others that it creates an imbalance. I loved the Fruits Basket segment, though. Very sad.
I enjoyed the second part of Animasia more than the first part. It had a better flow and balance to it. Requiem for a Nightmare is what I would consider the standout hit of part two, but part two was filled with very good segments. My only real problem with it was that there were two Evangelion segments in a row - probably not a good idea. The first Evangelion segment probably should have been placed either in part one or at the beginning of part two.
The monologues in both parts were a very nice touch. I found them creative and clever.
At this point, Reflections of Style 2 is my favorite AMV of 2005. It was superbly edited all the way through, and each segment segued so well into the next one that the video had a kind of flow I haven't seen in any other MEP. Also, I thought the song selections were fantastic. My favorite song in the lineup was Cherish The Day by Plummet.
I'm almost certain that AMV Hell 3 will be the winner, but I'll be rooting for Reflections of Style 2.
My apologies for my longness of wind in this post.