The current film I just watched is The Wizard of Oz, which is #1.
This movie is also on the 100 Greatest Movies list (#6), the 10th Anniversary List (#10), the 100 Greatest Thrillers list (#43), the 100 Most Inspirational Movies (#26), and the 25 Greatest Musicals (#3).
It has been a very long time since I have seen The Wizard of Oz, so we ended up watching it in preparation for my daughter to go see Wicked for the first time. And as a child I did not get the overt symbolism used throughout the movie. How the characters at the beginning of the movie were reincarnated as the Scarecrow, the Tinman, and the Cowardly Lion, not to mention the Wizard and the Wicked Witch of the West. The acting was also just so over the top. Nobody seemed to be holding anything back and just letting it all out there. However, that is what makes this movie so charming. It could have faded into the dustbins of history but the overacting by the four main leads are what draws us into the movie and keeps us there. I couldn't keep my eyes off the Scarecrow's walking behavior throughout the movie and the Cowardly Lion's eating up of the scenery. It was absolutely hilarious. I think what really got me was when the Wizard, playing the doorman, starts crying and it obvious he is just having water pour over his face. It's terrific. Judy Garland's Dorothy is equally over the top and without her acting so dramatic it wouldn't have worked with the other three. She was the glue to hold it all together. On top of all that, the colorization design of the movie was spot on, especially given the early days of color in which the movie was made. The color work was loud and glaring in many spots making the colors really pop out at you. It was beautiful. This movie earned it's place in history as one of the greatest ever made and will likely remain there for decades to come.
