I've seen quite a few GREAT highlight videos.
Some that quickly come to mind.

G-Man
Ali
Duran
Sanchez

Here's one that I personally will add to that list.
For me great highlight videos have to have the right music, the right footage, transcitions etc. etc.

This shit got my throat to dry up and I got misty eyed.

http://www.youtube.com/watch?v=1YNssgAupJc