Brokeback Mountain (lost to Crash) - Even the Academy thought it best to shy away from the subject matter.
Saving Private Ryan (lost to Shakespeare in Love) - Spielberg takes on The Bard...and loses.
Pulp Fiction (lost to Forrest Gump) - Gump's first victim.
Shawshank Redemption (lost to Forrest Gump) - Gump's second victim. Best picture in any other year.
Goodfellas (lost to Dances With Wolves) - One of the best Mob movies ever made takes on Costner's best. DeNiro gets clipped.
Raging Bull (lost to Ordinary People) - DeNiro loses another one.
Apocaplypse Now (lost to Kramer Vs. Kramer) - The horror! One of the most beautifully horrible films. Brando's performance alone is enough to see this one.
Taxi Driver (lost to Rocky) - DeNiro loses yet another.
Dog Day Afternoon (lost to One Flew Over the Cuckoo's Nest) - Tough battle here, but Dog Day remains strong over time.
Chinatown (lost to Godfather 2) - Should a sequel win an Oscar?
American Graffiti (lost to The Sting) - Tough competition.
M*A*S*H (lost to Patton) - The year of the military pic.
The Graduate (lost to In the Heat of the Night) - A serious injustice here!
Bonnie and Clyde (lost to In the Heat of the Night) - What a great year this was.
Dr. Zhivago (lost to Sound of Music) - Lost to the most over-rated Best Picture winner of all time.
Dr. Strangelove (lost to My Fair Lady) - Up against My Fair Lady and Mary Poppins.
The Ten Commadments (lost to Around the World in 80 Days) - Doesn't hold up so well over time, but still a classic.
A Streetcar Named Desire (lost to An American in Paris) - Won 3 awards for acting but not Best Picture.
Miracle on 34th Street (lost to Gentleman's Agreement) - Think the Academy Wants a Do-Over?
It's A Wonderful Life (lost to The Best Years of Our Lives) - No movie on the list holds up better over time than Wonderful Life. A classic in every sense of the word.
Citizen Kane (lost to How Green Was My Valley) - I assume the Academy is slapping its forehead right now. Doh!
The Grapes of Wrath (lost to Rebecca) - The second biggest injustice of the list.
The Queen (lost to Babel) - Even a career performance by Helen Mirren wasn't able to topple the Scorcese juggernaut.