Starting out in the late 60's as a british catalyst to the new music scene, the Isle of Wight Festival quickly grew in 1969 when they landed Bob Dylan as a headliner. Big names like Joe Cocker, the Who, and Jimi Hendrix followed.
Then there's the modern day version of Isle of Wight. Parting with their 60's influence, but still with an eye on new music, they've announced Jay-Z and The Strokes as 2010 headliners. Later they added Editors, The Courteeners, Reef, Noah and the Whale, Devendra Banhart and The Coronas
By 1970, the festival brought in over half a million people and was widely regarded as the British Woodstock, which was great, but the festival was a little out of control in terms of drugs and fighting. So much so that the British Parliament passed the Isle of Wight Act in 1970 banning all of festivals on that Island. The festival eventually made a comeback in 2002.
Check out the Spacelab Festival Guide for more information on the Isle of Wight Festival, including a full line up.