What makes it your favorite? Do you want to play it? If so, what's keeping you from doing it?
For me, it's Burning Wheel.
I bought it purely based on aesthetics back in 2008ish, then got the supplements, then Gold, then Gold Revised, with the Codex, and the anthology...
I blame it for my weakness for chunky, digest-sized, hardcover RPGs. :P I also like the graphic design, I like the prose (even if it's divisive), and it has both interesting lessons you can plug into other games (like "let it ride," letting success or failure stand instead of making lots of little rolls) and arcane systems that pique my interest (like the Artha cycle, which makes roleplay, metacurrency, skill rolls, and advancement all intersect). I genuinely like reading it for its own sake.
I haven't played it because... well, since it's not D&D, that immediately makes it harder to get people interested, sadly. It's also a bit daunting, given its reputation as a crunchy system. But I have a group of players interested in trying new things, and fewer other games calling for my attention, so hopefully I'll get a chance soon. :)
Ah, on the topic of templates, they're also in Dungeon Fantasy, which helps a lot. Though I do wish the "default" settings on DF were a bit lighter.
I know that GURPS Lite is secretly the real core rulebook. :P It's easier to build off of that than go through the Basic Set and sift through everything. How to Be a GURPS GM, IIRC, also helps with things like skill lists.
I think if I ever get a chance to play it, I'd probably start super simple, maybe even with Wildcard skills and some GURPS Action rules to smooth things out, then dial up the complexity until it's at a point I'd like. I appreciate modular systems that let me do that.