PS1/N64/Saturn era was by far the best. The leap from 16 bit to 32bit and 2d to 3d was visually amazing, and the use of CD-ROM allowed for comparatively massive games and excellent audio. But it wasn't just the hardware.. The PS1 era gave birth to brand new exciting, original never seen before genres, like "Survival Horror" and "Tactical Espionage Action"
Besides all that i think they just had some of the most enjoyable games i've ever played.
Metal Gear Solid
Abe's Odyssey
Final Fantasy VII & IX
Resident Evil 1 & 2
Gran Turismo
Command and Conquer & Red Alert
Goldeneye
Twisted Metal 2
Soviet Strike
Bust a Groove/Parapa the Rapper
Soul Blade (or Tekken if you prefer)
Wipeout
Grand Theft Auto 1
Tomb Raider
Time Crisis & Point Blank
Zelda
Mario 64
Destruction Derby 2
I still have a soft spot for 8bit gaming like Sonic, Mario, Golden Axe, Double Dragon, Wonder Boy etc in all its 2D side scrolling glory.
16 bit was memorable for games like Mortal Kombat and Street Fighter II.
But ever since i've had the income to be able to have a computer with better hardware and graphics than current gen consoles, console gaming today has been rubbish to me. I only use my PS3 to play a couple of hours FIFA each year and a handful of exclusives like God of War collection.
I wouldn't waste my time or money playing anything on console that can be played on PC, especially FPS, which are far superior on PC. I cringe everytime i walk past someone playing COD or the like on a 50" 1080p LCD/plasma and see all the jaggies, low res textures and just all round roughness and jerkiness of the graphics. Give me a keyboard, mouse and CRT any day.