I like compilations a lot. I like themed and well planned compilations as well as many of the old style compilations where simply good stuff was thrown together without any specific "logic" beyond stuff being good.
I can't really remain objective, but most compilations have very specific time when I got them and had big impact. Not in particular order and rather than absolute list, just few things to mention at first...
Americanoise 2xCD
I do have the tape, but I think double CD reissue actually blew my mind despite being such recent release. While "being there" sounds kind of honking ones own horn, I must say that sometimes when things happen too close, one doesn't see the significance until later. Lets say getting lots of "average USA noise" in mid 90's, 15 years later reminds how amazing the "average" was!
http://www.discogs.com/Various-Americanoise/release/3534801Dedication 2 CD1993 release with quite massive printrun, you can STILL get it for mere 4 euro! This is exactly the kind of compilation where very little is common with artists. Lets say: Hijokaidan, Chop Shop, Putrefier, Cement Women, Small Cruel Party, etc etc. but more than each band creating great pieces, I have a feel the flow of compilation is simply so great for my own taste. It may start with mechanics of Freudwerk, continue with relatively obscure D.D.Dobson, with few artists between, progress into full on noise orgies of Macronympha and Hijokaidan merely to slow down again into experimental sound art of Alan Lee, consisting only sounds of latex and porno moaning. Almost drone like works of Putrefier, early water noise of Aube and experimental improvasations of Japanese smaller profile bands like NORD or DISLOCATION.
http://www.discogs.com/Various-Dedication-Zweite-Auslese-/master/1399Dedication 1 LP may have more infamous bands and it's damn good comp too, but I got it many years after the CD above, so it has less importance for me. How can you go wrong with line-up with Entre Vifs, Masonna, Hijokaidan, New Blockaders, Hanatarash, Solmania, etc?!
http://www.discogs.com/Various-Dedication/release/426184Come Again II CDI've praised this too many times, I guess. Lets say, take best of Japanese noise masters. Search the best 1-2 minutes moment from some of the best releases, and assemble compilation of that. I don't think majority of works are done for this compilation, but it is basically craftsmanship of compilation making by the guy who put it all together. Meaning, mr. Teshima of Vanilla Records. Many cuts are from tapes on Vanilla records. If you listen this (and those tapes) as much as I did, you'll spot the exact moments when they happen on tape.
http://www.discogs.com/Various-Come-Again-II/release/646088Noise Forest CD1992, at the great days of Japanese noise being popular at west... Another solid line-up of heroes.
http://www.discogs.com/Various-Noise-Forest/release/430402Neuengamme LPGood mix of power electronics pioneers, rough rhythmic industrial and perhaps less university based electro-acoustic?
http://www.discogs.com/Various-Neuengamme/release/3501192War Against Society 3xLPGreat presentation. Great quality. Not big fan of Victim Kennel or Law here, but they're not bad either. But rest of compilation is pure gold. While Militia could top their game on "New European Order" and "Machinenzimmer" mCD, this is probably 3rd best Militia. Possibly best Grey Wolves, Con-Dom and Streicher works. So if we consider that out of 6 bands, 4 are presenting perhaps their top performances ever (and being among genre defining names), the compilation must be 100% must-have for any euro PE fanatic.
http://www.discogs.com/Various-War-Against-Society/release/301520More? Certainly, but lets take some breath...