I bought the Godzilla at a yard sale for a dime and he was minus tail and hand. Now I know where he came from. Other than that...I think some of the Gundam figure released in the states bear some attention given the deco and insane accessories some came with but beyond that anything I would replace on the list would likely not make someone elses (like Lion-O with light up eyes).

My biggest complaint is you missed what may be Soundwaves coolest feature-his weapons transfom into batteries and fit in his battery compartment. That to me blew me away when I bought the toy at a yard sale and had no idea those were there.

I still have my 6 million dollar man.  He's missing a foot, but he was cool.  He came with a rocket ship that turned into an operating table.  You could crash him and rebuild him all you wanted.  I also had his boss, Oscar Goldman.  He came with an pretty cool briefcase accessory.  If you opened it the wrong way, it looked like it had blown off (complete with a panel that popped off the side of the briefcase).  If you opened it correctly, you saw his computer inside.  There was a dial so you could change the picture on the monitor.  It also came with two figure sized file folders.  One for Steve austin and one for jaime summers.

A friend of mine had the evil robot arch enemy that could change its face to be in disguise.  The figure had changeable faces.

My list is...

Megatron

TNMT figures

Secret Wars figures

Mega man, not sure if right name, had a flashlight on his head and detected movement

Robot that spun around and shot lasers at everything and walked.

I almost picked up a Steve Aution (6 million Dollar man) figure at a toy show they had here in Columbus, Ohio last week. I didnt have alot of money on me and they were an all cash business. I had already dropped some money on (ironically) Death Row Marv and a couple Metal wind up Bender figures, so i couldnt afford the $100 tag on the mint/near mint in the box Steve Austin.

This is a tough one.

If there ever is a list of In-Active figures, or cool figures that don't have a lot of movement I think McFarlane wins hands down. 

Transformers always had a lot of cool figures as a kid.  I mean the Original Megatron looked like crap in robot form but as a gun, complete with Scope and Silencer, made you the coolest kid on the block when playing GI Joe (until some unsuspecting cop showed up and shot you on sight, at least these days you'd most likely get Tasered and only die of the resulting heart attack).  

Some here I don't agree with like Modulok.  I think Man-E-faces was much cooler as a kid.  Modulok always looked stupid and you always lost the pieces.  Hell, I'd trade Modulok for a Hordak in 2 seconds. 

I think the issue here is there is Cool and there is Cool Stuff You Can Do With Said Figure.

Cool - Soundwave, Not Cool (but still can do cool stuff with) - Modulok

Zartan fits both categories where Storm Shadow and Firefly were the epitome of Cool within the Joe line as a kid.  No one ever looked at your Bazooka figure and said, "Cool".  Even if he came with a big ol' Cool looking Bazooka.

Secret Wars figures were pretty cool, especially the Wolverine and Black Spider Man.  Those were figs all the kids in my neck of the woods coveted. 

Add in some of the Cool ginormous items like the USS Flag, Terror Drome, Metroplex and Omega Supreme and you have quite the list.

TayDor - I had all three of those (or myself and friends did.  It's been a long time.)  I have no idea where they are now.

Darkknight2280 - Did I miss the toy show at the Alladin Shrine Temple again?  I used to go twice a year, every year.  But I have missed the last four or five years.

lusiphur- They hold it at the Vets memorial now. ( if its the same one ur talking about). They hold it 2 times a year, April and September I beleive. so you have another chance to go to it. Its nice been going for the past 3 years.

Stretch Armstrong should definately be on this list.  There wasn't anything like it before or since.

I had a Six Million Dollar Man figure as a kid. Very cool toy. Coolest part was that you could roll back the skin on his arm to reveal the bionics!

Of course everybody is going to have their own preferences as to what should be on here.  My list begins and ends with the mighty Defendor of the Universe: Voltron!  (The cool lion version, not the vehicle one.)  I played with that thing so much all of the lead based paint fell off before the recall ever happened!  :)