I am not much of a Michaels fan (largely, cause he was too much of an asshole for most of his career), but he did a great job in making Flair's last match a classic.
I think what cannot be underestimated either is how key the commentators are in making a great match greater. Whether it was the Vince/Jesse combo, the Gorilla/Heenan combo, or the Ross/Lawler combo, most great matches have great calls that helped elevate the match. I will say, too, for as much grief as Michael Cole takes, his call of the final 15-20 seconds of the Bryan/Orton/Batista triple threat match at WM30 and his subsequent call of the victory was perfect. I will at least give him that.