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I think Pikachu is more or less the only Pokémon that was flattered by its Gen I sprites and did not get better in later Gens, considering how weird and off-model the style made some other Pokémon look. Gen I Pikachu is best Pikachu.
Except Yellow. By that point, the anime had already changed its design (and it was all angular and made of weirdly straight lines...).
The portrayal of Pikachu in the first episode of Generations is defintely my favorite rendition of it, though. I love the way it moves and acts and is shaped and everything.