You know, I don't really have a favorite PPV, but I can tell you my favorite time period in wrestling was NWA/WCW 1989 - Ric Flair. Seriously, Ric Flair in 1989 was at his absolute peak. Things were stagnating because the Four Horsemen broke up, but then Steamboat came along and they had those three classic matches, Chi Town Rumble '89, Clash of the Champion 6 (2 out of 3 falls), and Wrestle War '89. Three great matches in a span of 3 months. False, definitely check out those three matches if you haven't already, you won't be disappointed. Then after Flair beats Steamboat at Wrestle War, it segues into another classic feud between Ric Flair and Terry Funk, and the I Quit match they had was another classic. Sting and Great Muta got invlved in that feud as well and there were many awesome matches.
I remember I was very disappointed I couldn't see Wrestlemania V at the time (Hogan Vs. Savage), but Clash 6 was the same day and my friend taped it off television. We watched that Flair Vs. Steamboat match more times than I can count, the chops and the energy of the match blew us away, and the ending was brilliant.
My only complaint about this whole time period is that after steamboat lost the title to Flair, they stuck him in a mediocre feud with Lex Luger, then he disppeared. Steamboat only had a 6 month contract and it didn't get renewed. So with that in mind, everything I said in this post sums up what was both great and frustrating about WCW.