I like the "Elephant Call". With the volume rolled off, play harmonics quickly on the A string VII, D string XII, G string XII, and B string VII so they all sustain with equal intensity, depress the tremolo bar and bring it back up slowly while turning up the volume with your free hand. At the loudest point of the sound bring the bar back down while rolling the volume back off. With enough practice it'll sound like an elephant trumpeting away on the Serengeti!

How about less crazy stuff, like whammy vibrato, dips etc? Or extending your notes range beyond the fretboard limits? Or even a constant tiny vibrato while you play to make it sound like some sort of modulation effect?

Try a Dimebag punch scream! I know its kinda in the same idea as a dive bomb, but its way cooler. You take a string, hit it, dive the trem. down and hit the harmonic before you pick it back up. You have to do it really fast though or else it sounds bad. Once you get it down though, the chicks dig it.

i use it for vibrato a la david gilmour and dips. actually i wanted a guitar with a floyd so bad and now that i have it i barely use it. but its nice to pick the guitar up and have it be in tune.

Yeah, I just use it for vibrato on a bent note. I tried to learn how to vibrato with my fingers ala BB King and Clapton, but I never really could get it down. It's much easier to use the whammy for vibratoing single notes and chords, like Prince does. He really uses his Floyds to great effect.

It's also good for snapping strings

All i can say is ive tried most every trem bridge, and the only one i like is the bigsby. LONG LIVE BIGSBY BRIDGES................

Personally I prefer to use it with my rhythem playing. When you are holding a chord you lightly bend the notes to add some texture. I try to avoid using it in leads because its too passe - like wah ubuse.

I'm in a weird position, because I'm 50% in favor of all the whammy bar acrobatics from the 80's, and 50% in favor of just using a hard tail.

I like Paul Gilbert. He uses a hard tail. I like Van Halen. He uses a floyd.

BTW, that's a cool bag of tricks that Mr. Van Halen has. Try to use the bar to change the melody of a solo. Vai has done this with some awesome results.