As noted on the main page under Crouching Moron, Hidden Badass, Cole had a pretty incredible career as a journalist before his days with the WWE and covered some really significant events, both in the US and abroad.
While opinion on his commentary is still very much divided, even his most heated detractors agree that his call on Mick Foley's championship win was very awesome and only enhanced the moment.
Michael Cole: "Mankind has achieved his dream and the dream of everyone else who's been told: you can't do it!"
9/10/12, after Jerry Lawlersuffered a heart attack, Cole managed to both aid his friend and continue to call the action in the ring. He remained at the commentary booth all night, although he didn't call any matches after the announcement was made, keeping his composure and reporting to the audience on updates concerning Lawler's status.
After Lawler's heart attack and during his weeks-long recovery, Cole demonstrated a remarkable skill in flipping his on-air persona. While he'd been playing a Heel for years, with Lawler out of action he switched to being a Face behind the mic on the very next show...and did it so subtly that it would take a while for someone watching the show to realize he'd done a Heel-Face Turn.
His call of Daniel Bryan tapping out Batista at Wrestlemania was pretty good.