We use raw egg yolks when making our mayonnaise. We used to try to pasteurize them, but decided it wasn't worth the effort. It's hard to do it without unintentionally cooking it. Also, when eating mayo, you're not eating a lot at once.
One other aspect to the risk is that if an egg is infected with salmonella, it will supposedly look different (after breaking it open) or smell different from a normal egg. So we always examine ours carefully.
True, it's a calculated risk, but I do think the risk is overblown by the news media.
This recipe rarely fails:
A food processor
4 large egg yolks
1/4 cup lemon juice
1 tsp salt
2.5 - 3 cups oil (we use olive oil).
I don't worry too much about salmonella in the eggs, since it is rare. However, sometimes I nuke the yolks for about 20 seconds. This can make the may a little lumpy looking, but it still tastes fine.
Let everything come to room temperature
Put the egg yolks, lemon juice, & salt in the bowl of a food processor with a steel blade.
With the blade running, slowly add a thin stream of canola oil. Do not go too fast. A slow, thin drizzle is best.
When the mixture is properly emulsified (you will have used almost all the oil), stop. The mixture should have the same consistency as a freshly opened, room temperature jar of Hellman's mayonnaise.