As a film maker, one would think I have a pretentious taste in what I like in a film. And yet, I don't. In my opinion the story and writing is what truly makes a film great. Sure, direction, acting, effects, art direction, etc. are all important components, but as a viewer i'm more than willing to forgive lack of these areas of the plot and writing of a film is good.
So, what is my favorite movie? The one that, in my opinion exhibits excellent storytelling elements? For me that would be Shaun of the Dead. It's just such a smartly written film. It has excellent, comedic dialogue. Rich and compelling characters. And a great storyline. I also enjoy the way it references many of the horror films that inspired it so seamlessly.
And here, is a short video containing some of the best scenes in Shaun of the Dead :