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Either the Bond who just saw his wife murdered in the last film or an obviously sympathetic replacement hunting down and taking out the responsible terrorist leader in a sequence of four quick scenes amassing about 5 minutes before the opening credits start. Pointless considering the rest of the film? Yup. But awesome as a stand-alone moment? Indeed.
"Welcome to hell, Blofeld"
Bond discovers that he actually killed Blofeld's double at the start of the movie. He's in a room with the real Blofeld and another double, but he doesn't know which is which. So he scares the cat and shoots the one it runs to with his last projectile. Turns out Blofeld even made a double of his cat (or, you know, bought another one). Well played.
Q's ring that trips up slot machines into giving out jackpots.
Bond's fight with Peter Franks in the elevator, a brutal and suspenseful scene that even the movie's detractors tend to applaud.
Bond giving the Las Vegas police chasing him the runaround in a red Ford Mustang around the Vegas strip and getting it to tip on one side to drive through a narrow alleyway.