1508.dk just got to be the most beautiful umbraco site ever launched (it's in Danish, but look at it for the stunning visuals and to remember that umbraco gives you full design freedom).
I love the handdrawn flash animations in the top, but also remember to take a look a these case story pages (where the usual white background suddenly turns black - awesome):
Great job! We better go add it to the reference page - do you know of a cool umbraco site? Tell us and we'll get it up on the 'org. We'll also soon get the community submitted sites back - promise!