Compiling "Best [blank] of All Time" lists are always fraught with danger, because essentially you're creating a canon for a discipline. Questions will always be asked about why something or someone was left off a list, etc. Methodology comes into play. Also the credentials and biases of those making the selections become important if the list is taken seriously. For instance, the Internet Movie Database site has a top 250 list. It's weighted heavily toward recent films, because its methodology is based on ratings from visitors to the site who may or may not be qualified to rank movies -- it's hardly a surprise that not too many teenagers will have heard of Sunset Boulevard, let alone think it's more enjoyable than one of the Scream installments. But I exaggerate: the IMDB picks are not that bad -- it's just that they're weighted too heavily with the contemporary (two of the LOTR movies are in the top ten).
The American Film Institute has their own ranking of the top 100 American films. These films were selected not by "registered users of IMDb," but by "a blue-ribbon panel of leaders from across the film community." Citizen Kane tops their list. Looking over their list, I realize I've seen most, but not all, of their selections. However, I don't have to go far down the list to find one I've missed: Lawrence of Arabia. It's ranked #5. I may have to shuffle the NetFlix queue.
In related fun, IMDb also compiles the worst 100, based again on registered user ratings. Manos, the Hands of Fate tops that list as worst film ever. At least I can say that of their worst 100, I've only seen one: Superbabies: Baby Geniuses 2. I can blame that on my son.
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