It's certainly very good. Rather than offering all the points where I agree, I'll offer two problems I see in the back 9.
First, I did not love #11. Unless the wind is blowing into you, it's fairly easy for a single digit handicap to get over the bunker and down the hill. Any drive that is hit between 240 and 300 ends up in the same place (I have the same complaint about #5 where most balls collect at the bottom of the hill). Secondly, the clear strategy for #18 if you are playing medal play is to aim for 15 tee off the tee on 18. There is absolutely no sense in taking on the boundary line and trees on the left. It may be against the spirit of the hole, but I would be aiming right of the fairway bunker every day if I were a member. The bunkering in the layup zone is fantastic and makes for a very thought provoking shot.
I loved the day I spent at Lake Merced earlier this year, but those two flaws stood out to me right away when I was playing #11 and #18.
I want to push back on #11. I've played this hole and ended up with an eagle putt simply because if you run down the hill, you have a good chance of ending up on the green, whereas if you fly the hill, you're going to get an unfriendly kick and end up at the bottom.
I'm also confused by your strategy on 18, where you'd need to place a shot from 270-320 yards, around one tree and under two others, which would leave you still possibly blocked out by a third. From there, even if you're not in the rough, you have a 200+ yard carry to clear the greenside bunker. I mean, it's certainly a strategy for the bomb and gouge folks, but for any course undergoing a (mostly) historical restoration, that's going to be a vulnerability, and it's bad-faith strategies like these that bring in the arborists. If I were to criticize the 18th, which I very much enjoy, it would be that the obvious addition of an earthen berm on the left side would do wonders.
If I were to criticize any of the holes, I'd say that 14 is the weakest in my mind both architecturally and from a pure fun perspective. I presume it exists as it does for historical reasons, and as a chance to let the fair police reward the big hitters. I think that 17 is an underrated hole from a match play mindset, because of it's potential for extremely high variance given the awkward tee shot. And obviously 13 might be the most beautiful par 3 in the bay area.
As far as the original question, I tend to reject "bests" out of hand. For me, Corica North, the front nine at Lake Chabot, GGPGC, both nines at the Meadow Club, and even the front nine Lake Merced are all obvious contenders for the top spot. It just depends on what you value, and I tend to value fun and irreverence, so I got a soft spot for Chabot.