If a good party is one that's highly entertaining for the people there without causing irreparable property damage, a really awesome party is one that continues to entertain people two years after the fact - including people who weren't actually there.
I'm not sure if my readers will recall the gingerbread Columbia party that was thrown by my suitemates during the fall of our senior year. It was, without question, the single most awesome thing my suite did. Recently a librarian at CU came across the evidence on Flickr and sent links to the pictures around to one of the library mailing lists (one of the recipients emailed one of my suitemates for an explanation and she forwarded it along to the rest of us). The consequence of all this is that I've gotten to watch as the number of views of some of my pictures rapidly increased over the last week. It's pretty cool.