In the velvet darkness
Of the blackest night
Burning bright
There’s a guiding star
No matter what or who you are
Man, what warped mind thought up lyrics like that! 
djm
Wow - you guys bring so much to mind. Eraser Head I always viewed as the worst movie I’d ever seen and with no redeeming value whatever (I’m not a Lynch fan) - as I recall a B&W shadowy movie shot in a tenement - eraser head and company standing a crib leering at the deformed baby he had with a prostitute - nah, couldn’t be; I must be misremembering.
Henry V was wonderful (the Branaugh version) and historically the Battle of Agincourt was near unbelievable.
Remember those midnight showsat the Elgin in Greenwich Village - Freaks, Reefer Madness, the Harder They Come (Jimmy Cliff).
Philo
The magic of Eraserhead is in the soundtrack. All this subtext is built into the background sounds leading you into to expect something and suddenly - nothing. Its a total mind game! 
The only thing I can remember about Battle of Agincourt was the joke about “Pluck yew!”. 
djm
You said favorite, not the five we think are best. in the order they occur to me:
Holiday
Buckaroo Banzai
Sense and Sensibility (the Emma Thompson one)
Young Frankenstein
My neighbor Totoro (see avatar)
BTW, I knew someone in college named Frankenstein. Anyone else know a Frankenstein? AFAIK, she pronounced it FRANK-en-stine rather than FRAUNCK-en-steen.
What warped mind, you ask?
This warped mind! (as if you did not know)
I do love Rocky Horror, although it would not make my top 5 list. It would definately make the top ten though. …
“It’s not easy having a good time! Even smiling makes my face ache!”
my favorite quote from that movie…
And now back to the topic at hand- my top five are-
The Lion In Winter
Who’s Afraid of Virginia Wolf? snap, snap
Arthur
Yellowbeard(my very favorite by those Python fellows)
Rob Roy
I love those shoes!
Yellowbeard kind of disappeared real fast. I don’t think the American comics were able to fit in at all. But there’s some other solo Python gems like Time Bandits, Clockwise and Jabberwocky that have a permanent place on my shelves. Oh, and let’s not forget Brazil!
djm
Five is hard. Here goes.
Les Enfants du Paradis
Los Olvidados
Battleship Potempkin
Babette’s Feast
On the Waterfront
Babette’s Feast ( 
Wombat)
Chariots of Fire
Wings of Desire
Lord of the Ring
Muppets’ Christmas Carol
There are others in close competition, though the first four would stay no matter what.
Cheers.
My list is now totally different to the one I posted.
The Quiet Man and any 4 Old Mother Riley movies. 
That movie tripped me out totally!
I like too many. But I will put in a vote for La Dolca Vita, The Good The Bad and The Ugly and Satyricon.
Oh, Blue Velvet.
There’s a French flick called “Roi de coeur, Le” that is fantastic. It’s about a mental asylum during World War I. Another tripper.
Fritz the Cat. Don’t forget that one!
actually - I think to understand Eraserhead you had to BE tripped out!!!
You mentioned G,B&U - have you seen “The Seven Samari”?
Nope. Good?
It’s a very flexible choice but five that spring to mind are,
Annie Hall.
Chinatown.
The Big Sleep.
Red Rock West.
The Van.
Most of my DVDs are concerts, which reminds me..The Last Waltz…oops - that’s six.
Slan,
D.
They don’t sound like Old Mother Riley movies to me.
- Casablanca (Curtiz)
- Dead man (Jarmush)
- 2001 a space odissey (Kubrick)
- Elephant man (Lynch)
- Princess mononoke (Miyazaki)
I accidentally saw the beginning of (the original) 12 Angry Men the other night. Needless to say I was still there at 2:00am when it finished.
Waterworld
Robin Hood : The Prince of Thieves
The Bodyguard
Field of Dreams
Willie Wonka’s Chocolate Factory
A brilliant film. I spent ages looking for it on DVD. I finally found it, and bought on a Saturday morning. Watched it Saturday night. Received a Summons for Jury Duty on the Monday morning. No-one here at the office wants to borrow it, they think it’s cursed!