Okay, I can't do it. I can't make a list, and you can't make me! PDT_008
What I will do is list my favourite album from each era of the band, and you can consider them all tied for first.
The Zeppelin Years (Contestants: Rush, Fly By Night, Caress Of Steel): Caress Of Steel
The Prog Years (Contestants: 2112, A Farewell To Kings, Hemispheres): Hemispheres
The Police Years (Contestants: Permanent Waves, Moving Pictures): Permanent Waves
The Synth Years (Contestants: Signals, Grace Under Pressure, Power Windows, Hold Your Fire, Presto): Hold Your Fire
The Return-To-Rock Years (Contestants: Roll The Bones, Counterparts, Test For Echo): Roll The Bones
The Modern Years (Contestants: Vapor Trails, Snakes & Arrows): Snakes & Arrows
Hope I didn't miss anything!
For live albums, I'll pick Different Stages for the awesome 1978 live album.