Egypt took the honours and Cameroon gallantly battled back after a slow start but pre-tournament favourites Ivory Coast froze in the African Natiions Cup spotlight when it mattered most.
The Elephants, who qualified for the last World Cup in Germany and also played the final of the 2006 Nations Cup, were the popular choice to go all the way and clinch their second continental crown after their only other triumph 16 years ago.
From their opening group game against west African rivals Nigeria, the Ivorians looked unstoppable as they trounced Mali 3-0 and then spanked Guinea 5-0 in the quarter-finals.
Despite winning the Nations Cup a record five times, their semi-final foes Egypt were considered the underdogs until the defending champions denied them a place in the final with a comprehensive 4-1 victory in Kumasi.
"We had an off day while Egypt played very well and deserved their victory," said coach Gerard Gili, who at this tournament replaced Uli Steleike who stood down to attend his ailing son.
Africa's best ranked team leading up to Ghana 2008, the Super Eagles of Nigeria, only reached the last eight on the final day of their group matches when they beat Benin and the Ivorians outscored Mali.
German coach Berti Vogts' year-long stint with the team is now widely expected to come to an end, triggering speculation about the next man to take up one of the continent's most difficult footballing jobs.
Some have already paid the price for failure at this tournament.
Henri Kasperczak quit after Senegal fell to Angola while Henri Michel was given the boot by Morocco, who failed to go past a first round group that included Ghana and Guinea.
But the Nations Cup was a success for Angola, who host the next edition in 2010.
The Palancas Negras proved to be one of the surprise packets when they reached the knockout stage for the very first time in their history. They would go on to stretch cup finalists Egypt.
And in Mateus Alberto Contreiras Goncalves alias Manucho, they have a genuine star in the making - little wonder a top team like Manchester United snapped him up even before the tournament kicked off.
The 24-year-old strapping striker grabbed two goals to send tongues wagging about what a great prospect he is.
Southern neigbours South Africa finished bottom of their group but their Brazilian World Cup-winning coach Carlos Alberto Parriera said his young team picked up a few lessons that will serve them well at the 2010 World Cup which they host.
"We are building a team and in two years they would have gained the necessary experience for them to represent the country very well at the World Cup," promised Parriera.
Samuel Eto'o may have grabbed the headlines for breaking the tournament's all-time scoring record by netting a total of 16 goals and the versatile Michael Essien showed character and class to propel the host team to the last four.
However, the competition also brought to the fore lesser known players like Egypt's pair of Hosny Abd Rabou and Mohamed Zidan, Anthony Anan of Ghana and Yacine Chikhaoui from Tunisia.
After he was overlooked by the Pharaohs at the 2006 Nations Cup, Zidan, for one, announced his arrival on the big stage in his team's opening game against Cameroon when he grabbed a brace as Egypt ran away deserved 4-2 winners.
And again when he supplied the pass that resulted in Mohamed Aboutriaka scoring the only goal in Sunday's final.