Wow, this is a tough one to answer. All the guitars I own are my favorites, for very different reasons. I have a Taylor 855 12-string (spruce top-rosewood back/sides) which is the best 12-string I've personally been able to play (it sure was fun audtioning all the others though!). I have a Taylor 310 6-string (spruce top-sapele (mahoghany-like) back/sides). This is sort of my "everyday" 6-string--I have no problems carting it around. I have one of the Martin D18GLs, which is just starting to "open up" in terms of its sound--that one doesn't go out of the house very often though! For the electrics, I have always loved Telecasters, so I have the 1989 reissue of the '52, with Seymour Duncan pickups. I also have an S3 solidbody (see
www.s3guitars.com--it's at the bottom of the page), made by my friend/bandmate Steve Saperstein--this one is special because I got to help design it and specify the woods and electronics. I also have a terrible 22 year-old Hohner 12-string, which is rather like a 4x4 with strings on it. But in terms of its sentimental value, it's the most valuable guitar I own. Of the guitars I've had the chance to play, my favorite acoustics (so far!) have been the Collings D2H (I think its roughly their equivalent of a Martin D28), and the Santa Cruz and Goodall dreadnoughts. But the best one I've ever played was a couple of months ago, a beautiful 1943 D18. That thing is basically thunder in a box!
Derek