I know I'm a little late on this, but I hadn't seen the 2008 Slam Dunk Contest until tonight. At first some of the dunks don't seem terribly impressive, but once they slow it down a bit to really see what is happening, there's some stunning creativity there. It's certainly rescued the SDC from All-Star Weekend obscurity for the time being. The problem it has is the same as all contests, people only have so many notches to take it up until you can't take it up a notch anymore. Take a look here:
Here's a blast from the past: the best dunk contest before this last one: Jordan/Wilkins. Some of these don't seem impressive, but you have to remember that they set the bar.