Snuka / Coconut is always the first thing I remember when I think back. I was a huge Snuka mark, and was pretty upset by it. I think I was also upset when Piper beat the shit out of one of the jobbers at the time - Frank Williams?
Hogan/Iron Shiek for the title was amazing. That was a time when we had no idea when stuff like that was on, outside of the usual Sat morning stuff. We just happened to flip the channel (buttons on the box with the long cord). My brothers and I were pumped, and went friggin' nuts when Hogan won the title.
I also remember seeing a quote in our newspaper from Gorilla Monsoon saying it was real, so we believed it.
Saw Hogan blade in a match some time after that and that was that for belief.