Any product that is in plastic clamshell casing is automatically thrown out. The more twisty ties, the less likely you'll be considered. Artwork and interesting reading always help. In 2005, this category was dominated by 3 companies: Necessaries Toy Foundation (NTF), Wheaty Wheat and STRANGEco.
NTF always does a great job "aging" their boxes to look as if they came straight out of the 1950's. They created Todd Schorr's BunnyDuck and did an amazing job with the packaging. Nice tidbits of info, great artwork and their aging effects.
Wheaty Wheat Studios' Ledbetter line is a toss up as to which figure has the better packaging - Fire-Cat or Mr. Bunny. Both are works of art in their own right. I would probably choose Mr. Bunny's box over Fire Cat just due to the evil and happy bunnies adorning each side.
STRANGEco and Wootini worked on the Booted Glamour Cat. The twisty tie doesn't deduct because the overall packaging is so cool (and it doesn't take an engineering degree to get to the toy). It looks like the figure is in it's own little traveling sideshow display. There is reading and background artwork as well.
Winner: Wheaty Wheat's Mr. Bunny
If you are looking for an amazing work of art that houses and even more amazing work of art...this is it. If you like great, displayable packaging...the Booted Glamour Cat is the way to go.