I like the choosing the pattern, fabric, cutting, and most especially putting the blocks together. I love the challenge of getting all the points, centers, squares, etc all come together like I envisioined in my mind how it should look.
My least favorite is the quilting part of it....mainly because I don't have the space to quilt. I do quilt as you go..so do get the quilting part done.
I think what I like most of the whole process is getting everything to come together like it should. When it all comes together...it just makes me feel great... :)