Beside the sixties my favorite era in cinema. Unfortunately, I need to see many of the films again I considered as masterpieces two or more years ago, so my list isn't nearly complete. And, again, I haven't seen many of the "important" films of this decade (in this case, the "importance" doesn't mean much to me - I don't care which movies are said to be important). The only thing that really worries me: There are too few asian films... 

1970 

Rote Sonne / Red Sun (Rudolf Thome / West Germany) 
The Last Valley (James Clavell / UK) 
Deadlock (Roland Klick / West Germany) 
Little Big Man (Arthur Penn / USA) 
Zabriskie Point (Michelangelo Antonioni / USA) 
Eugénie (Jesus Franco / France/Liechtenstein/West Germany) 
The Ballad of Cable Hogue (Sam Peckinpah / USA) 
La Morte risale a ieri sera / Death Occured Last Night (Duccio Tessari / Italy/West Germany) 
Atlantis - Ein Sommermärchen / Atlantis (Eckhart Schmidt / West Germany) 
Deep End (Jerzy Skolimowsky / West Germany/UK) 
Mathias Kneissl (Reinhardt Hauff / West Germany) 
L'Uccello dalle piume di cristallo / The bird with the crystal plumage (Dario Argento / Italy/West Germany) 
El Topo / The Mole (Alejandro Jodorowsky / Mexico) 
Götter der Pest / Gods of the Plague (Rainer Werner Fassbinder / West Germany) 
Nicht der Homosexuelle ist pervers, sondern die Situation, in der er lebt / It Is Not the Homosexual Who Is Perverse, But the Society in Which He Lives (Rosa von Praunheim / West Germany) 

1971 

Frenzy (Alfred Hitchcock / UK) 
Confessione di un commissario di polizia al procuratore della repubblica / Confessions of a Police Commissioner to the District Attorney (Damiano Damiani / Italy) 
Max et les ferrailleurs / Max and the scrap merchants (Claude Sautet / France) 
A clockwork orange (Stanley Kubrick, UK) 
Giù la testa / Duck you, Sucker (Sergio Leone / Italy) 
Vanishing Point (Richard C. Sarafian / USA) 
Ich liebe dich, Ich töte dich / I love you, I kill you (Uwe Brandner / West Germany) 
W.R. - Misterije Organizma / W.R. - Mysteries of the Organism (Dusan Makavejev, Yugoslavia/West Germany) 
Get Carter (Mike Hodges / UK) 
The Devils (Ken Russell / UK) 
Whity (Rainer Werner Fassbinder / West Germany/Spain) 
Quattro mosche di velluto grigio / Four flies on grey velvet (Dario Argento / Italy/France) 
The Godfather (Francis Ford Coppola / USA) 
Les Lévres rouges / The red lips (Harry Kmel / Belgium/France/West Germany) 

1972 

Girolimoni, Il mostro di Roma / Girolimoni, the Monster of Rome (Damiano Damiani / Italy) 
Cosa avete fatto a Solange? / What have you done to Solange? (Massimo Dallamano / Italy/West Germany) 
Vampire Circus (Robert Young / UK) 
Summertime Killer (Antonioni Isasi-Ismaendi / Italy/Spain/France) 
Deliverance (John Boorman / USA) 
Lisa e il diavolo / Lisa and the devil (Mario Bava / USA/Italy/West Germany) 
Junior Bonner (Sam Peckinpah / USA) 
Il Tuo vizio una stanza chiusa e solo io ne ho la chiave / Your Vice Is a Locked Room and Only I Have the Key (Sergio Martino / Italy) 
Eolomea (Hermann Zschoche / East Germany) 
Die bitteren Tränen der Petra von Kant / The Bitter Tears of Petra von Kant (Rainer Werner Fassbinder / West Germany) 
Le charme discret de la Bourgeoisie / The Discreet Charme of the Bourgeoisie (Luis Bunuel / Italy/France) 
Kronos (Brian Clemens / UK) 
The Last house on the left (Wes Craven / USA) 

1973 

Don't look now (Nicolas Roeg / UK/Italy) 
Turks Fruit / Turkish Delight (Paul Verhoeven, Netherlands) 
Amarcord (Federico Fellini / Italy/France) 
Lemora - A Child's Tale of the Supernatural (Richard Blackburn / USA) 
La rose de fer / The Rose of Iron (Jean Rollin / France) 
Martha (Rainer Werner Fassbinder / West Germany) 
La grande bouffe / The grande Bouffe (Marco Ferreri / France/Italy) 
The Wicker Man (Robin Hardy / UK) 
Badlands (Terrence Malick / USA) 
Themroc (Claude Faraldo / France) 
Anita - Ur en Tonarsflickas Dagbok / Anita - Diary of a Nymphomaniac (Torgny Wickman / Sweden) 

1974 

Alice in den Städten / Alice in the Cities (Wim Wenders / West Germany) 
Angst essen Seele auf / Ali: Fear eats the soul (Rainer Werner Fassbinder / West Germany) 
La polizia chiede aiuto / What have they done to your daughters (Massimo Dallamano / Italy) 
Thriller - En grym film / Thriller - A cruel picture (Bo Arne Vibenius / Sweden) 
The Godfather: Part II (Francis Ford Coppola / USA) 
The Texas Chainsaw Massacre (Tobe Hooper / USA) 
Chinatown (Roman Polanski / USA) 
Il profumo della Signora in nero / The Perfume of the Lady in black (Francesco Barilli / Italy) 
Shurayukihime / Lady Snowblood (Toshiya Fujita / Japan) 
Tommy (Ken Russel / UK) 
Bring me the head of Alfredo Garcia (Sam Peckinpah / Mexico/USA) 

1975 

Profondo Rosso / Deep red (Dario Argento / Italy) 
Barry Lyndon (Stanley Kubrick / USA/UK) 
Salò o le 120 giornate di Sodoma / Salo or the 120 days of Sodom (Pier Paolo Pasolini / Italy/France) 
Professione: Reporter / The Passenger (Michelangelo Antonioni / Italy/Spain/France) 
Faustrecht der Freiheit / Fist-right of Freedom (Rainer Werner Fassbinder / West Germany) 
Montana Sacra / The Holy Mountain (Alejando Jodorowsky / Mexico/USA) 
Morte sospetta di una minorenne / Suspected death of a minor (Sergio Martino / Italy) 
The Man Who Would Be King (John Huston / USA/UK) 
Sebastiane (Derek Jarman / UK/Italy) 
L'Important c'est d'aimer / The most important thing: Love (Andrzej Zulawski / France/West Germany/Italy) 
La Bête / The Beast (Walerian Borowczyk / France) 
Lina Braake oder Die Interessen der Bank können nicht die Interessen sein, die Lina Braake hat / Lina Braake or the interests of the bank cannot be the interests of Lina Braake (Bernhard Sinkel / West Germany) 
Jaws (Steven Spielberg / USA) 
Numéro deux / Number Two (Jean-Luc Godard, Anne-Marie Miville / France) 

1976 

Keoma (Enzo G. Castellari / Italy) 
Assault on Precinct 13 (John Carpenter / USA) 
Casanova (Federico Fellini / Italy/France) 
The Image (Radley Metzger, USA/France) 
Na srebrnym globie / The Silver Globe (Andrzej Zulawski / Poland) 
Chinesisches Roulette / Chinese Roulette (Rainer Werner Fassbinder / West Germany/France) 
La Casa dalle Finestre che ridono / The House with laughing windows (Pupi Avati / Italy) 
Taxi Driver (Martin Scorsese / USA) 
La Marge / The Margin (Walerian Borowczyk / France) 
Izbavitelj / The rat savior (Krsto Papic / Yugoslavia) 

1977 

Suspiria (Dario Argento / Italy/West Germany) 
Hausu / House (Nobuhiko Obayashi / Japan) 
Martin (George A. Romero / USA) 
Obsession (Brian de Palma / USA) 
Spielen wir Liebe / Playing with love (Pier Giuseppe Murgia / West Germany/Italy) 
Eraserhead (David Lynch / USA) 
Behind Convent walls (Walerian Borowczyk / Italy) 
Io Ho Paura / I am afraid (Damiano Damiani / Italy) 
Cross of Iron (Sam Peckinpah / West Germany/UK) 

1978 

Dawn of the dead (George A. Romero / USA/Italy) 
The Deer Hunter (Michael Cimino / USA) 
The Shout (Jerzy Skolimowski / UK) 
Die Schweizermacher / The Swissmakers (Rolf Lyssy / Switzerland) 
Halloween (John Carpenter / USA) 
Messer im Kopf / Knife in the Head (Reinhardt Hauff / West Germany) 

1979 

Tess (Roman Polanski / UK/France) 
The Fog (John Carpenter / USA) 
Stalker (Andrei Tarkovsky / Russia/West Germany) 
Cannibal Holocaust (Ruggero Deodato / Italy/Columbia/West Germany) 
Alien (Ridley Scott / UK/USA) 
Das Ende des Regenbogens / The End of the Rainbow (Uwe Friener / West Germany) 
Quadrophenia (Frank Roddam / UK) 
Il Mistero di Oberwald / The Mystery of Oberwald (Michelangelo Antonioni / Italy/West Germany) 
I... comme Icare / I as in Icarus (Henri Verneuil / France) 

Maybe I should've kicked the italian """genre"""-films out and into a separate list but as they mean the same to me as "The Passenger" or "Stalker" (for example) I allowed them to stay. 

@ A: 

Now there's somebody else who supports "Zabriskie Point". Indeed one of the greatest american films ever made (in my opinion, of course...) 

* Just added Damiano Damiani's amazingly ambivalent political crime drama "I am afraid" and Jerzy Skolimowki's "Teorema"-like alienation study "The Shout".