What surprises me is how much my tastes and viewpoint on this, my favorite video game series of all time, have changed. For most of my Civ-playing life, Civ 2 was always by far my favorite (it's what got me started playing strategy games back in 1996 - I must have put in well over 2000 hours into Civ 2), followed closely by SMAC and Civ 4. However, over the last few weeks I've been playing all the different versions and variations of them again, and SMAC and Civ 6 are definitely my favorites now, followed closely by Civ 3. Civ 3 held up very well, containing everything I loved about Civ 2 but including elements that are still in modern Civ such as terrain defense bonuses. I still don't take very well to Civ 5, it broke my heart when it was released and that pain is still there. Hexes and one unit per tile were serious changes to the formula, and although I really enjoy those changes now in Civ 6, Civ 6 does everything better, having a more refined gameplay than Civ 5 now that districts are a thing.
On my most recent playthrough, I couldn't believe how let down I was by Civ 4. While it still has the best mods out of the whole series, it's vanilla (with or without expansion packs) gameplay just didn't feel right anymore. I forgot how much of a hassle it was to grow your empire wide in Civ 4, but even doing a tall empire doesn't seem to payoff as much as in Civ 5 or 6 (6 really nails the sweet spot between letting you choose tall or wide).
Now SMAC and SMAX are just pure genius... They hold up incredibly well, still look amazing, even without 16:9 support... but what clinches it for me is the sense of wonder and mystery these games still impose on the player. I played these games for years straight, but haven't gone back to them since the early aughties, so it felt fresh and new. I love the more focused gameplay and the fact that the game actually has a storyline, much like Age of Wonders or some of the great scenarios for the Civ series. Each Culture feels unique, and have their own storylines. Being able to build cities on the water is cool, but getting to design and prototype units is wonderfully satisfying still.
-Mithridates-: Most games in the series is excellent but Civilization 3 is my favorite of them all. One of the reasons is that waging war and building a large empire is the most fun in this version. Warfare quickly gets boring and time consuming in Civ 5 and while this works better in Civ 4 it is nowhere as fun or immersive as it is in Civ 3. In what terrain you position your units is an important factor here as well, but you can luckily move large armies without your other¨armies blocking them.
Diplomacy is as fun as it is in Civ 4 and Civ 5 and it is one of the huge improvements over Civ 2.
That said there are some great new things in Civ 4 and especially in Civ 5. Moving away from spamming out cities as the only strategy was a good choice and likewise the greater specialization of the cities and civilizations in later entries. I like that there is a lot of differences between some of the games in the series. I like playing a small civilization in Civ 5 that has only a few cities, but manage to outwit large empires with supreme science or culture but I also like building up a huge empire in Civ 3 from blood, iron and ruthless diplomacy. And actually getting some real resistance from the computer players.
Many of the new things in Civ 6 looks like fun but the art style and interface is very off-putting, so I'm at least waiting until the last expansion pack has been released.
Civ 2 is still alot of fun and has that "classic PC game of the Golden Era" feeling like Sim City 2000 and Caesar 2. But compared to Civilization 3 and later games it feels a bit to shallow and simple. But sometimes a faster, more streamlined game is exactly what you want, hence why you would want to play Heroes of Might and Magic 1 over HoMM2 or HoMM 3. Or (I'm told) Master of Orion over Master of Orion 2.
I agree so much with most of your points, but you should know that Civ 6 already has released its last expansion pack as far as I'm aware. Only two were planned, so unless that changed recently, I'd recommend grabbing it. It plays much better than Civ 5, and I agree with the most part that Civ 5 looked better, less cartoonish, Civ 6's style really grew on me, and if you want more realistic environments and units that are less colorful, there's an official mod that was released earlier in the summer that gives you the environment terrain of Civ 5 while going with a more subdued color pallette for the units. If you give it a try, I'd be very interested in hearing what you have to say about the game.