No one answer as my favorite as it's not always just about the cut, but the quality of the meat, where I am and what I have in front of me. A thin t-bone of nothing wrapped in a supermarket may not be all you want it to be.
I will say if i'm in a prime steak meat store or steakhouse situation with serious dry aged good stuff to pick - give me a Porterhouse medium rare to get my filet and t-bone fix. But, if the special of the house is a rib steak on a long bone and they swear by it - I'm going for it.
Meat quality is huge - more than the cut IMO.
The above applies to seafood even more and why I have no favorite fish. I love all fresh-high quality seafood and hate anything not fresh or weak quality.