You may notice, that most films winning the Academy Award for Best Editing, are action films. In the last 20 years or so, at least 10 films that won were arguably action films (The Bourne Ultimatum, The Girl with the Dragon Tattoo, and The Hurt Locker). In most cases this is probably because it’s harder to notice the editing when it is being used so judiciously.
Films like Atonement, Hanna, Rope, Hunger, and Gravity all employ the long take. These are the sort of things that get planned far in advance and becomes a matter of rehearsal and choreography between the actors and the camera. The director, Joe Wright, is very fond of the long take and will literally remove walls from sets in a scene, so the camera can go where he needs it to go. In the film Shame, we followed the protagonist as he simply jogged through city streets for two minutes in relative silence.
The long take can be a feat of grace and technique that may go unnoticed by the viewer, but the act of holding on a single shot for so long does do something to the audience. Even if they don’t notice it. It can lull them into a sense of calm or it can increase the tension. Some have taken the idea as far as it will go (i.e., The Russian Ark is a 90 minute film done in a single take), while others choose to employ this tool in moderation.
So, for some examples of judicious editing, here is the final scene from The Graduate. Take note of that second to last shot, and how long the audience is forced to stare at this couple, before we cut to the final shot of the bus driving away.