Who is your overall favorite guitarist?

At 44 years of age, I personally feel fortunate to have lived in an era along with some of the finest guitarists who have ever lived. I have always had an overwhelming love of music. As I look back to my earlier years of music appreciation (I took formal piano training for 17 years) I remember how my instructor would suggest exposing myself to the many different styles and disciplines of music.

These were such valuable words of wisdom. Considering the fact that this suggestion, more or less, forced me to be more open to musicians other than those that played in strictly rock and roll bands.

Wow, was I surprised to find that I could be as entertained by Chet Atkins and Les Paul as I could be by Ritchie Blackmore or Carlos Santana. Just think about some of the finest from our time. Jimi Hendrix, John McLaughlin, Robin Trower, Stevie Ray Vaughn, Eric Johnson, Steve Howe, Al DiMeola, the list could seem almost endless. All such incredible musicians.

Although it's very hard to pick one person or style in particular, let's remember the key words, "overall favorite".
I would probably have to say that my overall favorite would have to be Steve Morse (from Dixie Dregs fame).

Who is your favorite?
I did a three night gig a couple of years back with Jonny Kaplan, and he was getting great tone out of his simple set-up: A Les Paul Jr. (with two P-90 pickups) into a current Deluxe Reverb cranked just enough to put a little bite into the sound. Just enough sustain, too. He's the rhythm guitarist in his band, and that set-up worked really well for his brand of country-rock/Stones style music.
Carlos Santana, Jimmy Page, Robin Trower, George Benson, Al Demiola, Eric Clapton.
Paco de Lucia is dead. Here's what I consider his very best performance. I never heard anyone play like that. The quality or the recording is poor but you can hear the essense.