Gonna start with my all-time favourite:
From a nostalgic point of veiw i remember being in grade 5 while i was wearing my Lynx shoes i got from Kinney, i saw this grade six kid rockin these 3s. That very moment was a turning point for me and my perception of footwear. I remember never feeling that way about shoes before. I mean there were definitely other shoes that i noticed like the Delta Forces... but they were no AJ IIIs. The thing is it didn't stop at the 3s, there were so many kicks coming out at that time that were neck breakers; Solo Flights, Alpha Force, Air Assaults, Air Revolutions... just to name a few. AAhhh yes, those were good times indeed.
As for the very history of this shoe, well its got a pretty important role as far as pioneering modern footwear design. Not only from the technical point of view (first true mid cut bball shoe, first bball midsole to feature visible air), but it was also extremely revolutionary in terms of aesthetics. Trust me, elephant print was UNHEARD OF back in those days. I believe this design was the very shoe responsible for Nike's success and their place in progressive footwear design. It was a huge turning point in sneaker history. One could even make the claim that this shoe saved nike. Prior to this shoe, Nike was a old-man jogger company trying to break into the NBA. They definitely signed the right man in Jordan, but he was unhappy with Nike and wanted to end their relationship. So in one last attempt, Nike asked Jordan to come to this meeting so that they could convince him to stay. He didn't even want to go, but his parents convinced him to give them a chance. Tinker Hatfield, newly assigned to design the shoe (former designers opted to leave Nike to try to start own venture), presented the Air Jordan III and once Jordan himself layed eyes on it, the rest is as they say history.