Watershed is amazing, it's incredible. Period. I can't understand how such an album came out from a band whose half lineup has changed. 5 years ago my favorite band used to be In Flames, now I can only laugh at what they're putting up, relative to what Opeth's putting up.
Ghost Reveries - well, for some reason I couldn't get into that album very much, although I appreciated all of its songs individually, I somehow don't appreciate the album as being one of Opeth's best.
I agree with you there, absolutely. Watershed is amazing, excellent and very progressive. Opeth (Mikael) is a genius. PERIOD!
I couldn't get into GR; is not bad, but not like any of the albums.
Too soon to rank Watershed though, it has to compete with Blackwater Park, c'mon! and I personally love Deliverence and of course, Damnation, Morningrise, Orchid, MAYH and Still life, kind of in that order, roughly.