Pesronally I think the Worlds are slightly over-rated, a lot of things including luck, tactics, weather conditions, route all play a role in throwing up Champions, I guess this applies to every race but as the Worlds course is never the same, these elements play more of a role than say in the regular classics which are run on the same course every year.
When the Worlds were moved to October in the mid 90s, a lot of the big names stopped attending because it was so late in the season resulting in a sequence of lesser riders winning. Brochard, Camenzind, Freire (was a nobody when he won in 99) Vainteins, Astarloa, a lot of them didnt do the jersey justice either but then a lot of big names didnt either.
Cipollini won on a pan-flat route in Zolder with the Italian team designed with one thing in mind, keeping the race together for a sprint. Cipollini never even made the Squadra most years.
I remember 93 in Oslo, the weather conditions turned the circuit into a skating ring with riders crashing everywhere, even uphill. A lot of big names crashed out and when Lance went near the end, the remaining big names hesitated and looked at each other giving Armstrong the advantage he needed.
1990 also was very tactical with the late Rudy Dhaenans and team-mate Dirk De Wolf getting away together whilst the big names dithered behind. 88 Fondriest won becasue of the clash between Criquelion and Bauer. 1995, a lot of guys didnt even attend because of the need to prepare at altitude for the Colombian race, then Olano won because he had the stongest guy in the race(Indurain) acting as a deterrent to others whilst he escaped. Very often the best guy in the race doesnt win the World title.
I think the Worlds have improved in recent years and it usually a good race these days, unique I guess but to me its not the pinnacle of one day racing. I would rate something like Flanders or L-B-L as more prestigious. How many lucky L-B-L winners have there been?