The show has two peaks for me, but I wouldn't necessarily want the show to end with either of them. I see it a complete product for the most part.
One way or another, the first peak for me would be a continuous streak across seasons 2 through 3. Both seasons had well-defined and self-contained themes that also tied into to the wider "growing up" narrative of BtVS. S2 was emotionally raw and almost violent in its treatment of love, intimacy, death and the loss of innocence in adolescence. Angelus also remains my favourite Big Bad of the series "“ he made Buffy so vulnerable, and the murder of Jenny made him even more threatening. Then, to have him turn back just as Buffy finds the strength to stab him...it's heartbreakingly good drama. I don't think Buffy was ever as vulnerable after S2, but S3 was equally effective in how it dealt with Buffy's relationship with authority figures and institutions, and developed her identity as the Slayer by introducing Faith, who I think is one of the best Buffy characters. So many of my favourite episodes are in those two seasons "“ When She Was Bad, Lie To Me, What's My Line, Surprise/Innocence, I Only Have Eyes For You, Passion, Faith, Hope and Trick, Amends, Doppelgangland, Bad Girls, Consequences, Enemies, The Prom, Graduation Day and of course, my favourite episode from any TV show ever, Becoming. The Bangel relationship, the horrible lessons that Buffy has to learn about being a Slayer, the strength she finds to keep fighting and keep living in a hard, painful world, her alienation from even her closest friends and family "“ I can't help but feel that S2-3 defined everything that came afterwards in BtVS.
I think the show also reached a peak in Season 6. I love that it totally subverted everything about BtVS as it had been. First and foremost, I really believe that sending the characters into downward spirals is what let Buffy emerge at her most awesome in S6. I've said this before, but she shows more moral strength in S6 than she ever has before or since, and it demonstrates what a real hero she is "“ she's the only one of the Scoobies who consistently never rationalises her actions, who hates what she's become so much that she pulls herself out of the darkness. Even Willow had to hurt Dawn before she realised that she had a problem. Meanwhile, Warren was ten times more interesting than another inherently evil demon/vampire/god. He was just a completely awful guy. Not to mention, his death was the best murder scene in BtVS since Jenny Calendar. That isn't to say that Dark Willow was at all similar to Angelus "“ I personally see Dark Willow as a tragic figure. It was really refreshing to see an antagonist in BtVS born not of the evil inside them but of grief and rage. It burned me up inside in a way that no other major conflict in Buffy had since Angelus.
They could have ended it on Season 6 for me, but I think Season 7 was important to tie up the central metaphor of Buffy and give it a big finish. For that reason, I'd be loath at best to say that I'd be happy with BtVS ending before Chosen.