Journeyed there and back again
It would be nice if anyone who has an interest to make his own top 25, explain his/her choices and link to the list.
I, myself, do feel inadequate to compose a top 25 best fantasy books list, because I'm not that well read yet. At the most it would be a top 25 best fantasy books I've read list.
Concerning old books/new books better:
I wouldn't say old books are worse. There are some very good series out there that can stand toe-to-toe with most contemporary fantasy books. The old books do tend to be more limited on the innovative side in comparison nowadays (although this just might be a generalization).
And Ben's list is just that, Ben's list. It is a great list, but it's not my list. The top 25 fantasy book list based on our collective opinions composed by @Antoxx (where art thou?) is a better approximation. You can find that list here.