I have the greatest respect for Maestro Fellini. That said, I am by personal inclination more of a fan of Italian neo-realism, and so, of his films, I prefer La Strada, 8 1/2, La Dolce Vita, Roma, Amarcord. He was capable of playing more than one note.
Also, one thing I've noticed with my foreign friends is that they often miss that his films are comedies in the broader sense in that they are a part of the Italian tradition of portraying the Human Comedy. Not to mention the literally comedic sequences in so many of his movies.
Which brings to mind the many wonderful Italian songs that have appeared as part of the score for a movie. One of the most hauntingly beautiful songs I've ever heard, Mi Mancherai, I will miss you, is from the wonderful film Il Postino.
Unfortunately, the only version I could find with English subtitles on the screen is sung by Josh Groban. He has a lovely voice, but...no blood on the sword if you know what I mean. Here it is on youtube. I've also provided a link to a version sung by an Italian that has gorgeous images from the movie.
http://www.youtube.com/watch?v=-b0ywiZEv9A