EDH is really the only format I play anymore though I've been meaning to get back to booster drafting for Throne as well as trying Cube draft at least once.
For favorite time period, everything seemed great when I started in 4th ed as the game was bright and new and there wasn't much netdecking, etc. So much of what was printed back then was pure dreck but it all felt like there had to be a way to make it good. I sleeved up and played way too many cards like
Mtenda Lion trying to make a green stompy deck before there was a viable green stompy deck, emphasis on try.
Erhnam Djinn became one of my all-time faves that I still have a soft spot for [but no longer play].
I loved drafting
Urza's block and was probably doing 7 or 8 drafts each week throughout. Even with how much product I buy today, I probably still have bought more
Urza's Saga than any other set. My absolute favorite though was drafting original Innistrad. That set brought me back to Magic after a pretty lengthy hiatus as I'd stopped playing with the
release of Mirrodin [and I mean right at release...I bought a box, cracked it, loathed everything about it and pretty much stopped playing], only occasionally buying a handful of packs for nostalgia's sake. Innistrad had such great gothic flavor and such amazing deck types to draft, though I never was able to put together the
Spider Spawning deck because everyone else at the table typically raced to draft it. Ended up playing either blue white spirits/humans mix or mill as it was usually open. But I have very fond memories of that particular draft season. Sadly, Dark Ascension didn't add much and Avacyn's wasn't that much fun to draft and I pretty much haven't drafted since.