That is the trick with WCW... you need 96-98 so you either take the pre-NWO Hogan era or the craziness. I prefer the craziness personally since there was still some good stuff (Steiner, DDP, some decent cruiserweights) going on in late era WCW.
I can't really speak to it personally as I've only seen some 1980s stuff, but I'd guess that some point in the early to mid 1980s would be the most watchable AWA period. Bockwinkel replaces Gagne as the focal point, the short but huge rise of Hogan, the pre-exodus with Ventura, Schultz, Okerlund, Heenan, and company still around in the early years, then the later years with new blood like Martel, Hennig, The Road Warriors, and Hall. So I'd say 1981-1985 to capture all of Hogan's time plus the rise of Hennig with Bockwinkel as the man on top.