It is extremely hard to make comprehensive lists of what would be good.
And also, what are the actual merit of each release.
Of course if qualification is simply "IMO" = In my opinion, then it is easier.
I'm not sure how 2nd wave and 3rd wave should be separated? It would be foolish to separate them because of sound or style?
If thinking 1st wave as originators who were hardly ever called BM back then by build foundation. 2nd wave as material what was usually actually at least sometimes
called black metal and establishing clearly different form. Happening roughly in turn of 80/90's, perhaps bands like Katharsis, Moonblood etc already belong to "3rd wave" and entered already existing genre. They are already among bands who are the effect caused by existence of "2nd wave". Those who were active in time, can confirm the vast difference of bands starting in late 80's to '92, compared to those who started '93, 94, 95... For people who observe in now, it seems very much "the same" and belong to same timeframe, but most older guys I talk to, conclude differently.
Perhaps it is personal taste most of all.
List is good, yet I'd like to include many utterly important 2nd wave BM that sounds very different from mentioned ones:
Profanatica, Impalez Nazarene, Necromantia, Rotting Christ, Samael, Master's Hammer. Pick up first 1-3 albums of each and they belong to undisputed classics.
Releases like "Taste Our German Steel", gained it's infamy mostly by being ltd 100 copies LP. Not by merit of being anywhere near the best of Moonblood releases. From "suicidal" sound, one could not forget bands like:
Strid. Or from "noisy" bm,
ILDJARN. Setting standards long before there was "subgenre" for material like that. Listening both bands now, it's quite odd that band like Strid is so old with such material. Being released same year as Det Som Engan Var and Hvis Lyset Tar Oss, but years before Filosofem. And like decade before popularization of "depressive suicidal bm".
https://www.youtube.com/watch?v=Jwa-3THi90cOf course this is purely personal choice. It seems obvious that place where one lives and era when he started to listen material, has big impact on anyone's favorites. You know, ask a Swede about this, and they'd be probably curious why only couple Swedish bands mentioned despite country's huge input for BM. I never been fan of "usual" swedish stuff. What I rather find different from my own taste, is lack of bands from Poland. Mighty Veles, obviously is there, but one could make pretty much equally big list from Polish bands alone. Of course it doesn't make sense to "list everything that exists" as it soon makes existence of list pointless.