Well, for everyday Swing programming you’re not really supposed to be setting the min/preferred/max sizes of components to get your UI looking good. Sometimes setting the preferred size can be helpful (or custom components, for example, should compute their preferred size themselves, depending on their contents), but in general, you should rely on your layout managers to be sizing and positioning your components properly. It’s not so much having a “favorite” as it is knowing which ones to use to get your expected results in different situations, which mostly comes with experience.
That said, you’d be amazed just how far you can get with just BorderLayout, BoxLayout and GridLayout, along with intelligent use of empty borders for spacing. SpringLayout gets the job done for “columns” of components, but is unnecessarily confusing, and doesn’t handle RTL locales properly, unlike the other built-in LayoutManagers. There are also folks who use GridBagLayout exclusively.
“null” layout or absolute positioning is tempting because of the simplicity, but you lose all of the fun that LayoutManagers bring to the table, such as auto-repositioning/resizing of your GUI when the user resizes it. null layout also risks your GUI looking different from one machine to the next even based on factors such as a user’s OS, or even their system font settings. Things that align properly on your system might not align properly on another system when using null layout.