It was better when Art Bell was around. Some of the stories that came out were fantastic. I always pictured Art Bell being some huge skeptic just sat in his studio with his microphone on mute laughing while the people went on. I think he did interviews that way (not asking the One Critical Question) in order to encourage people to call in with this stuff.
Mel's Hole is one of my favorite Art Bell stories ever. I also fondly remember the one where the caller was apparently in a Cessna flying into Area 51 airspace (Art Bell: "I'd advise against that.") and then the call ending as the guy goes "Arrrrrgghgherheghhghg!" My Dad and I got a good laugh out of that one.