20s - I've seen Nosferatu once, and seeing as that's the only 20's film I remember seeing, that'll be my choice.
30s - The Wizard of Oz
40s - Citizen Kane
50s - On the Waterfront (quickly becoming my favorite film of all time)
60s - Easy Rider
70s The Godfather (no brainer), closely followed by Taxi Driver
80s - Raging Bull
90s - Goodfellas, closely followed by Fight Club
00s - so far, The Passion of the Christ