Cut two of the list.
1. The Lord of the Rings: The Two Towers
2. Spider-Man
3. Minority Report
4. Catch Me If You Can
5. The Pianist
6. Y Tu Mama Tambien
7. The Bourne Identity
8. Talk to Her
9. Hero
10. Gangs of New York
11. 28 Days Later
12. Chicago
13. Bowling for Columbine
14. Road to Perdition
15. Adaptation
16. About Schmidt
17. Punch Drunk Love
18. 25th Hour
19. Frida
20. Far From Heaven
21. In America
22. Infernal Affairs
23. Irreversible
24. Insomnia
25. Blade II
26. Red Dragon
27. 8 Mile
28. Equilibrium
29. Panic Room
30. One Hour Photo
31. The Count of Monte Cristo
32. Signs
33. Solaris
34. The Hours
35. Confessions of a Dangerous Mind
36. Harry Potter and the Chamber of Secrets
37. The Ring
38. Bubba Ho-Tep
39. Star Wars Episode II: Attack of the Clones
To further defiine my reasoning, and in the interests of transparency, some justification.
1 to 23 are basically the most acclaimed and discussed movies of 2002. I'd think it would be a mistake to leave any of them out. The last 16 are what I consider "bubble" movies.
24. Insomnia - Liked the film, but don't consider it special. But, it was directed by Christopher Nolan who has fans on this board.
25. Blade II - On Superherohype.com? Of course.
26. Red Dragon - Bubble choice. Good cast. Popular.
27. 8 Mile - Popular film. Good reviews. Good use of Eminem. Different subject matter than the rest of the list. In its own way it's a musical, so genre diversity.
28. Equilibrium - Christian Bale. Gun fu.
29. Panic Room - David Fincher. Relatively popular. Visually stylish.
30. One Hour Photo - Creepy thriller. Robin Williams in an atypical performance.
31. The Count of Monte Cristo - Old fashioned adventure. The type that you don't see too often these days.
32. Signs - Popular sci fi/thriller. M. Night Shamalayan while he still was well regarded.
33. Solaris - Steven Soderbergh. Brainy science fiction.
34. The Hours - Highly acclaimed. Nominated for best picture.
35. Confessions of a Dangerous Mind - Unconventional bio-pic. Well regarded. Sam Rockwell.
36. Harry Potter and the Chamber of Secrets - Highly popular. Well reviewed.
37. The Ring - Japanese horror influence hits America. Highly popular.
38. Bubba Ho-Tep - Little independent horror film that could. Bruce Campbell and Ossie Davis. A very unique tone.
39. Star Wars Episode II: Attack of the Clones - Too popular to be ignored, whatever my thoughts on the actual quality.
Other notable movies from 2002 that weren't mentioned and I didn't really consider due to quality/interest are:
Austin Powers in Goldmember
xXx
The Transporter
My Big Fat Greek Wedding
Reign of Fire
A Walk to Remember
The Sum of All Fears
Unfaithful
Death to Smoochy
Igby Goes Down
The Rules of Attraction
Changing Lanes
Nirgendwo in Afrika
The Crime of Father Amaro
The Man Without a Past
Edit: Looking around, it appears that In America should more properly be considered a 2003 film. So that would open up one more spot on the list. Any concensus out there for what needs to be added?