Mind that this was also during a time when the competition was paying a tonne of money on custom-designed consoles with not-so-inexpensive processors: the Sony PlayStation, the Nintendo 64, and the ill-fated Sega Saturn.
There were massive leaps made during the mid-90s for consoles, the CD32 was just a little too early and underpowered (the RAM configuration really didn't help), and AGA wasn't good enough for a mid-90s console, especially as it was a full bitmap display compared with the competing Genesis and SNES tile-based graphics, and then underpowered compared with the Saturn, Jaguar and Playstation. Then again, AGA was a hack because AA was dead. The nature of computer games was changing at the time and adding a chunky "byteplane" mode would have really helped for the Doom-likes and 3D games.
As for my favourite Amiga, it would have to go to the A500 - the one that brought the Amiga to the masses. I had a KS1.2 Amiga 500. Then an A1200, which didn't have the same feel to it. I just wish that the A1200 had also come in a more expandable A1000 style case.