I used to be very cold on the subject of AMVs. Everything I saw at cons was slapped together with minimal effort, and I can't stand half-assed anything - programming, animation, construction. I am sure authors of those AMVs would disagree, but it's their right. About a year ago I saw one clip which was worth some attention, "Narutrix" by "Many Lemons". It was clear that the author put some thought and work into it. It's available on
YouTube, although one of the interesting features -- perfect lipsyncing -- gets lost with the Flash video. So, best of the best get pretty sophisticated, but it's still a very inferior form of art, in my opinion.
I am, however, partial to fan animation, such as the Azumanga/Utena crossover by AmazonMandy. I understand that it's difficult to make. Mandy herself made a few AMVs, and she said that making Utena Daioh was "exhausting". But at least she's done something that few, if any at all, lazy-butt remixers ever did.
If I have a few months, I'd like to try something of that nature too. I feel inspired by the GIF of Chiyo-chan flying F-6F (I wish I knew the author).