Fantasmic!, at least in its Disneyland incarnation, is a spectacular show with a good storyline and plays out like a Best Of Disney compilation. I love the repurposing of the Mark Twain and the Columbia. Murphy, despite his problems, is a much better dragon than the one in DHS.
Fantasmic! gets my vote, but only in its Disneyland incarnation.
I'm a hardcore Muppet fan, but I can't stand Waldo, the Spirit of 3D. And yet I still voted for that over Fantasmic. Of course in my mind that was over the WDW version. The DLR version beats Muppetvision...I guess I'm saying I can't explain my vote.