Here's an interesting link. The Definitive 200, as defined by the National Association of Recording Merchandisers (NARM, a charming acronym to be sure).

http://www.definitive200.com/200_list.php

As an academic exercise, I don't have a problem with such lists. They allow you to start to get a kind of handle on art. Define it in some ways. And besides, some albums really are superior to others.

Problem is, they don't list any artistic criteria for selection on the site. Though the last sentence is shamelessly revealing: "Complete your collection!"