As someone who always loves arcing lobs in shooters (Grenades, Grenade Launchers, Artillery, etc) I always prided myself on my lob accuracy. It was my one thing I was better at than my friends. In Halo, for example, I'd be piloting a Wraith (That was the Covenant Tank, right?) and taking Banshees (Flying craft, for those who have not played it) out of the sky with my slow arching lobs of plasma. I'd always be that one guy who'd ricochet grenades behind cover to flush our targets out, while my friends handled the headshots and whatnot.
In other wortds, I ****ing despise the Homing Grenade on sheer principle, as it strips away the one thing I've always been confident at to make it more idiot-friendly. "Suck with grenades? Use me, noob!" Nuh-uh, I don't WANT to! Oh. Wait. The Demolisher is the grenade specialist kit with a grenade GENERATOR, and it has HOMING GRENADES!? I would take literally any other grenade over Homing, and the fact it has homing just irks me so much that I've actually run it without Homing Grenades before.
As for my favorite, that depends completely on the kit in question. Probably a toss up between Arc, Inferno, and Multifrag.