The Mega Powers saga is the best overall work and of course made the most money and I love it so fucking much, but like...Hogan didn't need to kill off the elbow, man. Wrestlemania 5 is another of my favorite matches ever but you don't kill the elbow. Fuck Hogan all over.
I say Rumble '91 to around Summerslam '92, roughly. Extra crazy Macho King, redemption arc with Liz, dragged back in because Jake is pure evil, defends Liz's honor against wrestling's ultimate sleaze in Flair. When Liz left it threw a lot off, of course, but I can't sleep on the build and match with Warrior at Summerslam. Just classic Flair mindfucking with Perfect and Heenan feeding it so well.
A big, big part of my frustration with the nWo is that it meant never getting the final resolution with Flair. I have my own issues with nWo Savage as it is, but dude never got his proper revenge.