I am old enough to remember it clearly. Forgive the grumpy old man nature of my comments, but it's really hard to understand just how important this was if you didn't live through it. It's not just the incredible nature of it as a sports upset (remember, American hockey back them wasn't nearly as strong as it is now, so it wasn't just the best team in the world losing to a bunch of college students, it was them losing to a bunch of *American* college students - as McKay said, sort of like the Steelers losing to a group of Canadians). But the political context of the time - hostages in Iran, Soviet invasion of Afghanistan, etc. - made it (forgive the cliche) more than a sporting event. People who normally wouldn't care about hockey, or even the Olympics, cared about this. I doubt we'll ever see anything quite like it again.
Oh, and while no Wolverines on the team, I believe there were two Michigan natives - Ken Morrow and Mark Wells.
also duty-free guys falling over and grabbing their shins