Close finish for sure. I love watching playoffs as well. Love seeing guys playing pretty much till dark. Shows you what they're made off and what kind of recovery they have if they hit a poor shot during a play off.
For me it really depends on how the player who is running away with it is playing. When a player is running away from the field and just keeps the hammer down, it's fun to watch. When they go into protection mode, it gets kinda boring.
I like to see a close finish. That said, Tiger charging through the field on a Sunday is probably something of the like we won't see again for a long long time. The back 9 of the 2005 Masters is still the best day of golf I've seen, if only for the shot on the 16th!
I like it all. I don't always like to see a play off, but I do like a close finish. 2015 US open was a spectacular example. I love to see the final pairing forced to really try to win the event.... It didn't happen that way in the USO, but you get my point.