I was wondering what your all time favorite Avengers line up was.

I'm going with the Avengers who took down the Masters of Evil IV, after they wrecked Avengers mansion.

Captain America, Wasp, Thor, Black Knight, Captain Marvel (Photon), Hercules
I'll throw in Ant Man II as a guest star, since he really bailed them out.

i dont really have a favorite, all formations have at least one major flaw that BUGS me

I'm a big fan of the Harras/Epting/Palmer era:
Black Widow (leader)
Black Knight (field commander)
Hercules
Sersi
Crystal
Vision
Captain America

They certainly weren't the most effective or traditional version of the team but the interaction was really well done. Black Knight became one of my favorite characters during this run and hopefully he'll show up in the next Marvel set.

Other good stuff: The early Busiek issues, the current Johns run, the Dr. Druid era team.