I loved the five doctors...I think Iīm going to continue with Peter Davison...I find him the most likeable of the five. (granted...we donīt see much of four there), One and two have something...canīt put my finger on it...something that makes them seem a bit to arrogant for my taste. And Iīm not at all sure about what to make of three.
To some extent, the show really solidified its formula during the Tom Baker years. Everything after that is largely following in the same footsteps. And while Peter Davison was deliberate in trying to avoid mimicking Tom Baker's performance, it's worth noting that he often found himself performing scripts originally written for Tom Baker. "Kinda" was originally written for Tom Baker. And all of the 5th Doctor's scenes on Gallifrey in "The Five Doctors" were originally written for the 4th Doctor but got changed over when Tom Baker suddenly dropped out of the project.
As for the 1st 3 Doctors:
The Jon Pertwee years had a very different format from the rest of the series because they mostly focused on Earth-bound stories where he works as the scientific advisor for UNIT.
The William Hartnell years were very different because the Doctor wasn't really the lead character back then. It was more of the Ian & Barbara show while the Doctor was an enigmatic instigator.
Patrick Troughton's Doctor had a more prominent role on the series than the 1st Doctor but was still far from the infallible hero that he would become in later incarnations. In fact, I'd say Matt Smith is really the only other Doctor since then to play the role with the same kind of vulnerability.
My point is don't reject the 1st 3 Doctors out of hand just because their eras were considerably different from the new series that you're used to.
Which are considered Davisons best serials?
Caves Or Androzani, Kinda, Earthshock, Snakedance, Enlightenment, The Visitation & The Awakening are all good and generally well liked.
His first story Castrovalva is decent but carries on from the last Tom Baker.
Avoid Timeflight & Warriors Of The Deep, the rest are all about average.
For my money, the top 4 Peter Davison stories are "The Visitation," "Earthshock," "The Five Doctors," & "The Caves of Androzani."
I kinda like "Time-Flight." It's not a great story but it's a fun little romp with a decent slice of unnecessary weirdness.
But I would advise avoiding "Warriors of the Deep." That was shite and features Turlough at his stupidest & most craven. Stay away from "Mawdryn Undead" too.
Personally, I would also not recommend "Kinda" or "Snakedance." I don't find the Mara that interesting. I suppose it's alright if you're already interested in Buddhist philosophy. But otherwise, it's just confusing.
And if you liked Anthony Ainley as the Master in "The Five Doctors," he was also in "Castrovalva," "Planet of Fire," and...
The Master also makes some decent appearances opposite the 6th & 7th Doctors in "The Mark of the Rani" & "Survival."