No, not the pinnacle, definately not. The video is of the top Portugese event four years back. It's all changed so much since then.
In the UK there are a number of events that claim to be 'the toughest' but they all vary so much; The Phoenix, The 90 degree, The Decider are all tough as hell but so very different. Most are 'punch' hunts - using orienteering punches; or have Special Sections ( a timed 'stage')
The european challenge scene differs from country to country. The Eastern European stuff is fast; with events like the Berlin-Breslau (or whatever name it runs under next year) being quick rather than technical; same goes for The Transylvanian or The Croatian. The Ladoga or The Vepski are just completely insane - liek an extreme version of any of the Scandianvian Challenges (imagine your rock crawling without the nice grippy rock (lots of lichen) and bogs, lakes, more bog with extra bog). The Murmansk to Vladivostok is different again - 12,000kms (7,500miles) of high speed endurance in snow along the Trans SIberian Highway. The winning team gets 22lbs of Gold.
Western European stuff varies from tight as hell with lots of mud and slippery rock in the UK, through rock and sand in Portugal/Spain, Jungle in the Canaries, Uber technical in Begium and France to just about everything in a hot climate in Morroco...
We also do a lot of endurance rallies in Europe - like the Baja, but less bumps, collections of shorter stages and much faster.
I've travelled over a big old chunk of this globe and what people do with 4x4's for fun is so varied
Personal favourite goes a bit bigger [ame="http://www.youtube.com/watch?v=ssCirsswooM"]YouTube - Europa Truck Trial 2009 - Ostrava[/ame]
Used to do this but it got so expensive just getting there - I ran a Volvo TL22/916 hybrid back in the '80's