To me a quilt made lovingly by a grandma for a grandchild is far more beautiful than one (almost perfect) made for the sole purpose of winning competitions. Nothing wrong with that, I greatly admire the work of these people. A child's first attempt at making a quilt, a quilt made full of love for a friend or loved one or even the family pet.
As the saying goes, Beauty is in the eye of the beholder. It's also in the joy when someone loves what you have made for them. As to favorite pattern I think Mariners Compass is still high on my list. It's surprising to look back on the magazines I bought when I first started quilting and realize how much my tastes have changed. Quilts I thought I'd make back then but never did aren't even on my list these days. As we have all seen written "so many quilts so little time".