For example, Charles Bagli, the veteran real estate/development reporter for the New York Times--and formerly at the Observer--did not appear on the list and he's the most powerful journalist covering New York real estate and development. It was his coverage on the Metro front page Friday that clarified the issue surrounding tax-exempt bonds for sports facilities: it's more about the Nets arena than Yankee Stadium.
And Assemblyman Richard Brodsky, listed at #89 (behind me!), showed that he can make news and put officials under the spotlight, both criticizing "Soviet-style" tactics regarding the negotiations for such bonds, and scheduling an Assembly hearing within three weeks.
In the past week, I'd say, Bagli and Brodsky deserve a place in the Observer's top ten.