Every year people act surprised that the most entertaining event of All-Star Weekend was the Rising Stars game (née Rookie/Sophomore game), but it's time fans start appreciating what we have. In an era of terrible dunk contests (more on that later), the Rising Stars game is consistently great. Players are just the right amount of intense about it, but it still has the potential to devolve into an impromptu dunk contest at any moment. Throw in the twist they added last year of Charles Barkley and Shaq picking teams, and you have one of the best All-Star events in all of sports.
As for the three-point contest, it's simple and wonderful. It's not the best event, but it'll never be the worst. It stays as is.