I never played OD&D, so I won't comment on it.
Basic: Fast and easy to learn, very traditional and dungeon-crawly in its presentation but loose enough for a roleplay-oriented DM to take it in other directions.
The best pre-3e campaigns I played and/or DMed used these rules.
1e: Darker than basic, presumably in an attempt to be more mature, and somewhat deadlier. Also cumbersome and sometimes contradictory.
I played very little 1e and never DMed it, but it seemed to suffer some of 2e's problems, only less so.
2e: Flavorful, fantastical... and very close to unplayable.
Combat was a cumbersome chore, nonweapon proficiencies were just enough to limit noncombat activity without fully giving rules to resolve it, and the sheer number of books became outrageous. The setting information was expansive and wonderful, but the mechanics invariably bogged down and sabotaged every campaign I played in it. And yet, it was the main edition I ended up using. -sigh-
BUT, before murdering it for evil Planescape, 2e did result in the creation of the Perfect Setting, Spelljammer. Therefore, it gets a pass.
3e: Flavor-neutral, tactical and (mostly) balanced.
Easily the most fun to play, particularly in combat, and a more than servicable wargame unto itself. Speeded up leveling (good!) but left levels as significant as previous editions (bad!). Not suitable for the much-sought-after (by me) 99-level rules set. Excised most of the stupid rules of old (negative AC, RACIAL LEVEL LIMITS) and balanced most of the unbalanced ones (monster characters).
Overall, I've enjoyed 3e far more than prior editions. I like the fact that it's mostly flavor-neutral, because it makes it easier to invent. I like the fact that it's tactical because it doubles for skirmish rules. Gone are the days of using Warhammer Skirmish rules for Spelljammer ship-to-ship combat!
d20 Modern: Action-movieish, tactical and roleplay-focused.
My favorite TSR/WotC system by far. Driving another nail into the coffin of the outmoded and obtuse 20-level class=archtype model that D&D hasn't yet completely abandoned! But, the provided settings are *very* weak.
3.5e: As 3e, but slightly improved.
I actually think 3.5 is about as big of a departure from 3e as 2e was from 1e... which is to say, not much.
Overall, 3.5 has been the best D&D I've played and DMed.
I would rank them:
Modern > 3.5 > 3.0 > basic > 1e > 2e