My favourite of the European / World Cup Tournament albums would be Europa 80 as this was the first I collected. Espana 82 would run it pretty close though.
My favourite of the domestic albums would be Football 80. It was the first of the classic layout that panini stuck with until Football 88 (I believe). It also had player stickers for the English second division, rather than just a badge and team group photo. I think this was the only album that featured second division player stickers. Football 83 comes a close second with the full length player stickers. Really liked the badges in Football 79 which were made of fabric rather than foil.
Football 84 was a fairly horrific album. Personally the Euro/WC albums lost their appeal from France 98, when licensing from various Football Associations became an issue. Super imposed heads on plain t-shirts or track suits and rubbish badges with a crappy flag looks horrible. Having said that Euro 2012 looked like a decent album (licensing aside).
I think the current Panini Champions League 2012-2013 is a really decent album.
Cheers