That's a hard question to answer without some additional info from you. What is your price range? Do you want a static prop or one that lights up? Do you want one with all the bells and whistles (lights, sounds, special effects, force motor, etc)? Do you want one from a movie or a custom design? Do you want stock off the self, or do you want a custom? Can you do the custom work yourself? Would you need a sabersmith to do the work?
So, obviously asking which one is the best can't really be answered easily. I think you might want one that lights up and makes sound. I would grab one of the newer Hasbro FX Sabers or an older MR FX Saber. These are in the $120 range and are very nice. Do some research over on FX-Sabers.com. That's the best place to be for saber related questions but of course many people here can help as well.
The BEST you can buy is a Hyperblade. Not only do you get a removable blade that still has the scrolling effect, they're incredibly durable and resilient. Also, you're probably going to end up with a custom sound board and speakers which means better sounds, motion detection, and best of all: blade pulsing. Check this video out Saber Comparison Video 1 of 4 EL, MR, Luxeon, and Hyperblade - YouTube. Price wise though, they are quite expensive. But if you REALLY want the best lightsaber out there, get a hyperblade.
Here's my Hasbro Force FX Luke Skywalker ANH with removable blade. Although not 100% accurate, it still looks enough like a real Graflex to satisfy me. NOTE: This sabre should not be used for dueling....swing it around a bit and pretend to be Luke. Light strikes to activate the clashing sounds are ok but once again NO DUELING....it won't hold up. Here's a few pics:
The blade is removed by unscrewing the red button as shown.
Included is a belt hook and a emitter plug to slip into place when displayed without the blade.
It's a really nice piece when displayed on the included stand.
The sound effects are straight from ANH, which is a plus.
Here's a negative: There is a slight dark spot in the middle of the blade that the instruction book says is "normal" for all Force FX sabers. Although slight, it is there. Hope this helps.
I agree with what some people are saying. Make your own would be the most satisfying. I used to think Master Replicas would be the best, but compared to a real Graflex, which you can get cheaper than most licensed lightsabers, that is about as movie accurate as you can get.
As your max budget is $1600, then one of Yoda's Graflexs with crystal chamber chassis would do very nicely, I think. He is the admin over at fx-sabers.com