If you're new to MMA, or want to own some of the greatest MMA events in history, none of these DVDs will disappoint. I recommend them to everyone on this board who doesn't own them already. You can buy almost all of them at the Sherdog store. Also, many of the numbered Pride events are part of five DVD sets, so you can get five shows for the price of two.
If I left any notable events off this list, or made any mistakes, please let me know. I will update this list regularly, adding shows that get mentioned often.I've bolded my five absolute favorite DVDs.

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UFC 1: The Beginning- Everyone knows how this one turned out, but it’s still something that every MMA fan needs to watch in its entirety. This show marks the birth of MMA in America, and the birth of the sport's most prolific promotion.
Amazon.com: Ultimate Fighting Championship Classics, Vol. 1: Ufc 1-Beginning: Movies & TV(not available from Sherdog)
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UFC 8: David vs. Goliath- This one night, eight man, no limits tournament features Don Frye, Gary Goodridge, and Don Frye’s mustache. It is entertaining and educational from beginning to end.
Extreme Fighting - UFC Classics 8 Not Rated / Lions Gate Home Entertainment / DVD(not available from Sherdog)
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UFC 12: Judgement Day- If you’ve ever wondered why Belfort used to be feared, this DVD will provide you with the answer. There are also plenty more old-school UFC fighters to see.
UFC 12 Judgement Day VHS, Video , UFC Store(not available from Sherdog, only available on VHS)
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UFC 40: Vendetta- 8 fights, 8 finishes. Arlovski, Ortiz, Lawler, Newton, Hughes, Liddell, and Matyushenko, appear on this card.
Sherdog Online Store - UFC 40 - Vendetta - Double DVD Set-
UFC 43: Meltdown- UFC 43 features an entertaining mix of old-school and current UFC fighters. The main event is Liddell vs. Couture I.
Sherdog Online Store - UFC 43 + 44 - Two for One!-
UFC 47: It's On!- This card doesn’t have very many huge names, but it has plenty of big finishes and lots of entertaining fighters like Diaz, Arlovski, Sudo, and Yves. The main event is Tito vs. Liddell
Sherdog Online Store - UFC 47 + 48 - Two for One!-UFC 49: Unfinished Business- There isn’t a dull fight on this entire card. The only fight that even goes to decision is Karo vs. Diaz. Lindland, Liddell, and Randy are also on the card.Sherdog Online Store - UFC 49 and 50 Two-Pack - Limited Time SALE-UFC 52: Couture vs Liddell 2- This is my favorite UFC. The main card is stacked, including Liddell vs. Couture II and one of the most incredible fights I’ve ever seen, Hughes vs. Trigg II.Sherdog Online Store - UFC 52 - Couture vs Liddell-
UFC 66: Liddell vs. Ortiz 2- Lots of big names and lots of finishes.
Sherdog Online Store - UFC 66 - Liddell vs. Ortiz II-
UFC 79: Nemesis- Finally! Wanderlei Silva vs. Chuck Liddell! Also, GSP faces Hughes for the third time. Neither fight disappoints.
Sherdog Online Store - UFC 79 - Nemesis-
UFC 84: Ill Will- This is a very exciting card featuring the LW superfight between BJ and Sherk. Also, a man who legally changed his name to War Machine gets choked unconscious in less than a minute.
General Sports - UFC 84: Ill Will Not Rated / First Look Home Entertainment / DVD(not available from Sherdog)

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2000 Open Weight GP Finals- Many of the best fighters on the planet, including Royce, Sakuraba, Goodridge, and Coleman gathered to compete in a two event, 16 man tournament. Royce and Saku fought in a legendary 90 minute war.
Sherdog Online Store - PRIDE Grand Prix 2000 Deluxe Collectors 3 DVD Set-
Pride 10: Return of the Warriors- This is a great showcase of old school Pride fighters.
Sherdog Online Store - PRIDE 10 Double DVD Set Ringside Collectors Series-2003 Middle Weight GP- Chuck Liddell, Wanderlei Silva, Alistair Overeem, Sakuraba, and Rampage all competed in the tournament. Cro Cop, Big Nog, and Fedor are also featured.General Sports - PRIDE Grand Prix - 2003 Not Rated / Brentwood Home Video (BCI Eclipse LLC) / DVD (not available from Sherdog)
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Critical Countdown 2004- This card is full of talented heavyweights and features some amazing fights and finishes, including Rampage vs. Arona.
Sherdog Online Store - PRIDE Critical Countdown 2004-
Pride 28: High Octane- The main event of this card is Rampage vs. Silva 2, which was one of the most brutal KOs ever. And Aleks vs. Thompson is always good for a laugh.
Sherdog Online Store - PRIDE Legacy Vol 5Sherdog Online Store - PRIDE 28 - High Octane-
Shockwave 2004- The New Years show was always Pride's biggest event. There is a combined total of 9 current of former UFC or Pride champions on this card. And who could forget the atomic butt drop?
Sherdog Online Store - PRIDE Shockwave 2004 Double DVD Deluxe Set-
Pride 29: Fists of Fire- 10 fights. 7 KOs.
Sherdog Online Store - PRIDE 29 - Fists of Fire-
Bushido 7- One of the best Bushidos ever. Nonstop action and insanity. From the first fight on, you know this will be a show that you remember.
Sherdog Online Store - PRIDE Bushido 7-
Critical Countdown 2005- Round 2 of the 2005 MW tournament. There's lots of great action on this card from Pride's two heaviest weight classes. Little Nog vs. Shogun is epic.
Sherdog Online Store - PRIDE Critical Countdown 2005 Deluxe Double DVD Set-Final Conflict 2005- The finals of the 2005 GP plus CC vs. Fedor!Sherdog Online Store - PRIDE Final Conflict 2005 Deluxe 2 DVD Set-
Bushido 9- This card includes the opening rounds of the LW and WW tournaments. Most people consider this the best Bushido event ever.
Sherdog Online Store - PRIDE - Bushido 9 2005 Tournament-
Shockwave 2005- It's Shockwave so you know the card is loaded. This event also featured the finals of the Bushido tournament.
Sherdog Online Store - PRIDE Shockwave 2005-
Total Elimination Absolute- This is round one of the 2006 open weight grand prix. No fight goes to decision, and some of the names on this card include Barnett, Aleks, Overeem, Werdum, Big Nog, and Cro Cop.
Movies Top Sellers - Pride-2006 Total Elimination-Pride 33: The Second Coming- This was the best MMA event of 2007, as well as Pride's swan song. Gomi vs. Diaz and Hendo vs. Wandy are both unforgettable.Sherdog Online Store - Pride 33 – The Second Coming