Number one is the right pick, IMO. Livephish 11 is what got me truly hooked back when it was released. The fact that most criminally underrate the tweezer (I say criminally bc people say things like 'third best jam of the night'...unreal) and it's still the top choice says it all to me.
That said, this show benefits a bit from the old Cornell 5/8/77 argument...ie it gets a reputation boost because of the sbd treatment (or in the case of 5/8/77 one of the best sounding unreleased boards ever). This doesn't so much negate its choice here as I think ensures that some other shows just haven't been as poured over analytically (read 11/19, 12/2, and 12/3). Anyhow, a fine choice.