The general consensus of opinion is Ivory. For playability, the old yellow micarta plays great...followed up pretty closely by the old paper based micarta...plays a little softer, I think. I personally like the way that Ivor-X plays, but with Kerry Zeiler's passing I don't know if they will be available anymore.
For the rest of the materials, it is pretty much a crap shoot, depending on what you like. Juma is good, Elforyn is popular, melamine (LBM), Aegis, Ivorine-4, Titan, Porper ferrules play good....there are just too many materials to list. Find a cue that hits like you like, and find out what ferrule is on it.
I always liked the linen based fiber ferrule as they never crack, break and can last a lifetime..and I'm also like the triangle tips because they also last and keep their shape longer then higher price tips
all around price and playability I think juma is the best bang for your buck, and your cue repairman will never have a complaint with working with it the stuff machines great and stays pretty darn clean!