I'm say work right now, but this is a good way to spend a ten minute break right? To answer your questions... Favorite book would have to be The Way of Kings. It is incredibly expansive and full of lore... Really, really full. My favorite magic system is a toss up between the Stormlight Archives and Warbreaker, although the Stormling Archives is still unraveling. I am a big fan of the originality in both books in terms of taking common magical abilities (making things moves, super power-esque sight and hearing, flying, and whatnot) and explaining it with a refreshingly original Magic system. Some books don't even take the time to explain their magic!! The audacity!! I guess that's wgy I'm a Sanderson fan.
And I have read all his Tornpublished novels as well as his Infinity Blade and Legion novellas... I don't think there are any I haven't read!