Though I live in Bundaberg I think the Rum produced here is very ordinary to say the least. Yes the ownership has changed and they are on an aggressive marketing campaign with limited edition releases etc but Caribbean Rum is hard to beat.
Mount Gay Genuine Eclipse Barbados Rum with the map of the Island on the label has always been my favourite but I have not seen it for a while.
When I lived in New Zealand for 3 years my girlfriend worked at Newton King Wine and Spirits Liquor Shop and would bring home a bottle of Angostura Old Oak Rum every week (free).

I have to say it is the finest Rum I have ever slurped.
Another Rum she would bring home was Appleton Reserve in the stone bottle with the finger loop. Regarded as one of the finest I never did think it was as fine as Old Oak.
In 1977-78 (pre computer and email days) with a bottle of Old Oak, I would sit down and drink the whole bottle straight and write my letters home. Never a hangover in the morning. Up at 5 and off to work. I would often take a bottle to work on the pipeline and four of us would polish it off with milk coffee before lunch to keep the cold at bay.
Tonight I am drinking Sailor Jerry spiced Rum. Another current favourite is Old J. It is Caribbean Rum that is taken to the UK and spiced with vanilla added. A fine drop I must say.
My best mate is partial to Neghrita Spiced Rum and it is great.
What is your favbourite??