Game wise, gen 2 is easily my favorite because of its innovations and other aspects. I don't count remakes, just the main trio. HGSS is my all-time favorite Pokemon games, but because of DPPt, gen IV is easily the one i like least. Gen III is my second fave gamewise. Then V, then I.
Pokemon wise, gen I is easily my favorite, followed by III, then II, V, then IV.
My systems: Genesis/32X, Saturn, Dreamcast, GG, SNES, N64, GCN, Wii, Wii U, Xbox360, PS1, PS2, PS3, GBC, DS Lite, DSi XL, 3DS, PS VITA
The only thing I see wrong with Gen II is the mismatched levels; even in HGSS, where I've been told they tried to fix it, the levels are unbalanced throughout Kanto. There's three tiers of strength; the weak trainers, the strong trainers, and the Gym Leaders. The weak trainers are too strong to train new Pokémon on, and the strong trainers are too few and far between to train you for the Gym Leaders. And then there's Red...
For those of you starting topics about the PS4, there's a PS4 board: http://www.gamefaqs.com/boards/691087-playstation-4