"Can't we talk about this like two reasonable human beings?" *wham*
From a film-making standpoint, the first-person sequences are each Crowning Moments of Awesome in their own right. In fact, the crew spent over a year developing a camera that could actually accomplish them. Particularly the opening scene.
Don't pretend you didn't cheer when Lenny pulled Max's knife out of his own back, cut his necktie off, and sent Max plummeting to his death.
"Enjoy the Party..."
Sadly, it's a cut scene, but how Lenny arranges things to get into the giant, sold out VIP and police-infested party where people would love to kill him is pretty damn awesome. Happy New Year, indeed!
After Steckler and Engelman have forced Lenny and Mace to give up what we think is the tape of Jeriko One's murder, and Lenny and Mace have barely escaped with their lives:
Mace: I can't believe you had to give them the damn tape.
Lenny: Yeah I know. It was one of my favorites: me and Faith in the hot tub on my birthday. (takes the actual tape out of his jacket) Are we impressed yet?
Mace: Yeah, pretty impressed.
The riot that erupts as a response to Mace's beating at the hands of SWAT.
A personal one for Michael Wincott: as Philo gets angrier, his accent slips from a fairly refined upper class English to a broad Cockney. Wincott is actually Canadian.