I love Hot Fuzz, definitely my favorite of the trilogy. Shawn has the most overall charm, but the amount of layered jokes Hot Fuzz is remarkable. I'm still noticing new gags and details after years of viewing.
I think it's the least self-examining of Wright's work (in the sense that a lot of his films are about nostalgia-obsession and refusal to grow up, and Hot Fuzz is sort of the only one in which that element is present but not really examined critically) but it is by far the tightest and funniest and best comedy. SO perfectly structured beat for beat.