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His only album that's even remotely consistent enough to be considered a personal classic is Blonde on Blonde, but I understand why so many of his albums are revered the way they are. He's an artist who can introduce new ideas into music while still excelling at those ideas, so that he can't be thrown away and forgotten in a decade.
edit: this isn't even what the OP was asking about... I'm/we're a little off-topic.
I've heard a few good covers of his works, namely "You're Gonna Make Me Lonesome When You Go", but none eclipse the originals in my opinion.
Blood On The Tracks and Highway 61 are in my opinion classic albums also.
In terms of covers there are a few good ones out there I particularly like this one
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Wild men who caught and sang the sun in flight,
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