Yeah, I do think, based on the little I've heard, that this tour is them at their very best live.
Within the context of the times, maybe they were getting a little dinosaur-ish by 1989, but taken out of context and just enjoyed today, they were just incredible.
One of the reasons is probably that, for the first time in many years, it was a "no pressure" tour -- not hawking an album or a record or a download, and not having to make back a big financial investment. Not trying to win over corporate America, etc. Just go out and play for fun to appreciate, fairly non-critical audiences.
Then, Bono's voice was at its peak.
Edge was in a relatively 'guitar-hero' mode (for him) at this stage, which meant he wasn't afraid to rip it up a bit. My God, their "All Along at Watchtower" at (I think) Sydney is so great it does my head in. (by comparison, makes the crappy Rattle & Hum run-through sound like a U2 imitation band busking)
This tour is also the end of "80s U2", which gives it a certain mood of finality and emeritus. They had to move on from this, but it's like one last victory lap.
This is the only tour where I've enjoyed "All I Want is You", and only in the '87 and '89 tours did I really like 'Where the Streets Have No Name'. (Much of the 80s' catalog sounds awkward to me during the 1990s' shows.)
Hell, I even like Edge's piratical image.