I didn't see a discussion on this, so I hope I'm not stepping on any toes posting this here.
From the 'comments' section and other forums such as IMDB, the general consensus is the list is pretty terrible, and there are definitely some baffling choices on here. It seems in spots they just went with whatever sketch they could easily find a video of. There are some sketches on here that I find really funny (Sincere Guy Stu, Jimmy Tango's Fat Busters, Centaur Interview, Stefon, The Falconer) but just aren't significant enough to the show's history to sit with the likes of Matt Foley or Stefon. Some all time classics like The Sinatra Group, Clinton at McDonald's, any presidential debate sketches, Schmitt's Gay, Wake Up and Smile (the first great Will Ferrell sketch), "Lazy Sunday," Steve Martin's "Not Gonna Phone It In Tonight" and others are all missing at the expense of stuff like Garth & Kat (among the worst recurring bits from both Fred and Kristen) and a largely forgotten Season 20 sketch with Jeff Daniels and Chris Elliot. Additionally, while still very funny, the Celebrity Jeopardy they chose was not the best one (I'd have included 'Turd Ferguson').
Any other thoughts?