Oh man have I been stewing over this one!!! It really came down to NogiMyu vs LMF for me and it was a tough choice. (I have yet to watch much of the Super Live.)
In the end, some things put LMF in my top spot:
1 - they combined all of the best parts of the Stars arc from various sources.
2 - It was the best overall of the first Nelke series in all aspects: individual and cast performances, quality of song composition, stage effects, casting, script & pacing, etc.
2a - as a sub to this, I think this Myu has my favorite Venus ever of all non-manga SM media which kind of blows my mind...
3 - I actually am pretty bugged by Pluto's actress as Tux in NogiMyu ^^;;;. Sorry. I know I'm in the minority on that one. I have reasons but I'll leave them out here so as not to get the thread off topic.
I'm in love with NogiMyu's staging hands down and so many other aspects... It's a lot more entertaining in several ways. But somehow it does feel more like a canned experience than LMF. Unsurprising, of course given the target audience as primarily Nogizaka fans; not to discredit the talent involved in the production!! The songs are very catchy and the singers are talented. But with all the above considerations and watching the history of the first Nelke series unfold, it's hard not to feel sentimental for LMF. I am convinced that Nogi would not have been possible without the first Nelke series paving the way in this new age of Sailor Moon creation.