Best for what?
Governors are built into the kernel, so if you want choices, you'll have to flash a kernel that has those choices. Some are for high performance. Some are for saving battery. And then there's ones in between. Some might work better if you underclock or undervolt to save battery. Some might work better if you run only 2 cores. Some have better wake-up speed from sleep. "Best" depends on what you plan to do with your phone.
Don't forget about profiles either. For example, I've been playing around with HellsCore kernel and HellsCore Manager. You can create profiles depending on what you're doing. Like, if you're plugged in and playing a game, set it for max performance. If you need it to last as long as possible, limit the max clock speed, run only 2 cores, and use a battery saving governor. With HellsCore Manager you can even mix it up; Performance or normal until battery hits 50% (or whatever), and then switches to a battery saving profile. Pretty nifty.
Relax, go nutz!