I cannot believe I didn't realize sooner that this video was eligible, but there is no way The Otakon AMV Contest Intro should not be on this thread somewhere.
I've seen this on the big screen three times in three different versions, and it still doesn't get old. I consider myself lucky to have been one of the finalists included in it every one of those times.
May sound a tad biased because my little sister made this video. Still, it is VERY well done. She threw it together in a few months for a literature class she was taking with special permission from her teacher. The idea was to tell the story of Romeo and Juliet in a modern way, like "West Side Story" did. This video got her an A++ and a gift certificate for the extra hard work she did but it hasn't got very much attention on the site.
That said, I thought I would just point it out along with one little fact: she is only 15 years old guys. This is RAW TALENT! So, yeah. Call me biased if you will, but I encourage you to watch the video before naming me such.
Her video uses effects to move the story along, and most of the effects can't even be seen. I watched her animate most of these scenes with some really good roto-scoping to make the lip sync work. That is a special effect, but good luck spotting where she used it and where she didn't.
There is nothing like a moonless night to watch a few AMVs.