While all dogs should have a yearly checkup, if your vet is still recommending yearly vaccinations, he is either way behind the times or more interested in his income than the dog's health.
If you check out this site among others, it will tell you about the fact that the American Veterinary Medicine Association has changed their recommendations for vaccines for dogs and cats.
Vaccination For Better Or Worse - Good Advice from BCCA Project Vaccine - Library TheDogPlace 0604
Although the protocol was first introduced in 1995, it wasn't widely known until after the year 2000. It is still recommended to give the rabies vaccine per your state or county laws as much to protect the dog from law enforcement as to protect the dog. As I said before, it's possible for a few vets to have not heard of this but a lot are not telling their clients because of fear of hurting the bottom line.