Here's a famous clip from the 2004 Evo Street Fighter 3rd Strike Tournament.

You have Daigo Umehara playing as Ken and Justin Wong playing as Chun-Li. The guys are playing best out of three fights. The fights themselves are also the best out of three. The fun begins at around the 1:20 mark. Wong closes out a strong second round of the first fight, and takes a pretty convincing lead in the third round.

The points to know for anyone not up on fighting games.

A lot of fighting games make the player take some damage if they block attacks. So if your character is low on life, it's a common tactic for the other player to get you in a position where you have to block, and then use a powerful move to chip away at your life bar. Not too many fighting games offer a parrying function, and 3rd Strike does. This parrying option lets you deflect the blow for no damage. The catch is that must hit the correct button input at the correct time for every hit of the opponents attack. If you miss, you're wide open. Parrying a few hits to set up your own attack is pretty good, but this is something else.

Under the pressure of playing in front of a crowd, playing for money, with basically no life bar, and being shut down the whole round Daigo manages to predict and then parry an entire super move, and immediately set up his own combo take out Wong. It might not be the most amazing thing, but it helped put fighting game tournaments on the map, and as a fighting game fan I've always enjoyed it.