I would say Spruce and Milo even though I've never owned one. Of course, the builder is more important
I would say Milo/Spruce is my "premium" wood combination, and usually reserved for clients that I can do a one on one consultation. MGM brought one into HMS that had inlay on it, and the initial response from the staff was about the inlay. MGM was adamant to point out, "Play it." The inlay wasn't mentioned after that.
My favorite combination that I always seem to go back to is Quilted Maple/Spruce, initially for aesthetics, but one builder commented recently, "You're finally back to building Maple instruments. . . " Most would think it bright, but the one my son made 4 years ago has matured into an instrument that has a sweetness unlike Mahogany, but sweet nevertheless. For some reason, the Curly Maple ones tend to stay a little crisper, but that may be because I don't see any of the curly ones anymore, so I don't know how they've broken in. Of course, there's a thinline Curly Maple (top too) that is in Asia right now, surprised by how that came out (MGM was, and still is the man for that design).
One of my ugliest is Mahoghany. An instrument to play with your eyes closed, but an instrument to play nevertheless. One of those other woods for one on one clients.
Sonically, I appreciate Myrtle/Spruce, and although they've moved when built, not much of a recording market for an instrument made out of cheap wood. If sound were the only intent, I'd put this near the top, right behind Milo/Spruce, and same level with Mahogany (but different, if you know what I mean) and Maple/Spruce.
Yes, its the build as well. More importantly, what the builder does with the wood. ie: If someone wanted an all Maple, Rick Turner is the best. Not sure what magic juice he soaks his wood with, but his ability to generate tone from all kinds of different woods is unreal. I'd like to get a Koa(or Rosewood)/Spruce from Casey Kamaka - that would be tops for me. Not too many of those around (although I have a friends' sitting in my garage right now). His current stuff is definitely what to shoot for. Funny, not too fond of Jakes' sound though, but Bryan Tolentino's, nuff said.