I've divined two things from this list, 1. I need to see more of the classic staples (Citizen Cane, All Quiet on the Western Front, Sunset Blvd, Ben Hur, etc. And I really need to invest some time in watching the Charlie Chaplin movies if I'm going to call myself a movie buff) and 2. Recency skews a lots of the more modern movies into this list, because there's a lot of crap in here. The only Batman movie that should even sniff the top 250 is the Dark Knight.
I'm just fuggin' ecstatic that Avatar isn't on this list.