I've given it some thought and ten is harder than a hundred. It takes a lot of distillation; also, I think you lose that eclectic aspect that's appealing in longer lists. There's a lot less chance of stumbling across a previously unknown gem in someone else's list; the fewer the books, the more predictable they become.
A lot of my all-time favorites are nonfiction, too; for starters, I think I'd need two lists!
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