The friendship between Ed and Bela. To paraphrase the man himself, nobody gave two fucks for Bela. Then he just happens to bump into one of his few remaining fans, Ed. By chance, Ed is itching to get into movie making, and once he does, he casts Bela in his films and gives him the first work he has had in years in an attempt to revive his career. Becomes a Tear Jerker because obviously, he failed.
The fictional meeting between Ed Wood and Orson Welles. It may come across as a cliche Meet Your Hero pep talk moment, but it's a little deeper. Wood is considered to be the worst director in history, Welles one of the best, and here they are discussing the troubles of their careers and getting along like they'd make good friends.
Ed: Mr. Welles...is it all worth it?
Orson: It is when it works. ... Ed, visions are worth fighting for. Why spend your life making someone else's dreams?
Plus, Welles completely ignores that Ed is wearing a dress. Through the whole film he's been very anxious about people discovering his habit, and then his hero doesn't seem to even notice.
The making of Plan 9 from Outer Space. Ed sees his cinematic vision come to life and it is an experience enjoyed by all. Then the premiere. Ed runs down the aisle to a massive applause and gets to see his creation on the big screen, finally feeling what it's like to be the big shot director he's always dreamed of being. It almost makes you forget that the film we're talking about is Plan 9 from Outer Space.
The entire film is arguably one for Tim Burton. He takes a man whose very name is considered shorthand for bad filmmaking and treats him with the utmost respect. At no point are we meant to laugh at Wood or view him as a pathetic figure but we are encouraged to admire his determination and utter joy for filmmaking.