I would have to say Panic as well. I love the effect and it's reactions.
Well, I started magic a few months into '07 so, I'm not quite sure about the History of all the effects released this year. Although, the ones I do know of....it's so hard to decide on.
For an effect which is so simple and applies such a huge reaction I would say Panic, because you need to know 0 sleights to perform it.
For something that is Impromptu and requires everything borrowed, and signed on the spot, Bullet hands down, because it's simply stunning in those aspects. And, just for the sheer beauty Factory Sealed should be nominated because it's just so ingenious.
Now, I don't own a lot of DVD's or know many of the effects some of the other people have named but for some of the ones I've seen which could be nominated are:
-LadyBug By Paul Harris
-FITH by Huron Low
Now these 5 nominees are just off the top of my head, and I was simply trying to cover numerous categories of magic. And these are ones that I think look, and know are amazing.
Can't wait to see how the actual tournament plays out.
-Happy Holidays,
-RA69