Ah, Yu-Gi-Oh, the only card game I still play. I've been trying to keep up with the series, but it's been hard since series 3 of Zexal doesn't seem to be available outside of the US :( Let alone Arc-V. I've recently started re-watching the first series though(I'm currently at the part where Joey's dueling Rex) though in duelist kingdom the rules seem to be that whoever can make up the most convincing effect for there mosters wins. :P
I do also keep up with the Zexal Manga, which I'm at volume 6 of. I have all the Original Yu-Gi-Oh! Manga as well, the ones from before Duel Monsters took over, and Joey (Or Jonouchi) had the weirder hair.
Anyway,

Favorite series? Tough one, I'd have to say the second series of Zexal, thi first was kind of bland, but once Vetrix showed up it got better.
Favorite character? Ray Shadows. (Zexal Spoiler)
Spoiler:
Though I've only seen three or so episodes after he revealed he was really Vector, so that might change if I can get ahold of the last series

Jesse Anderson comes second
Do you collect the cards? Do I?! I've been collecting them since the first Yugi & Kaiba starter decks were released. I did take a breack for a while around late GX/early 5d's, but it now get at least one new deck a year. Recently I have a Noble Knights deck, thanks to the boxed set released. :)
What do you like about Yu Gi Oh and why? The thing that appeals to me most about Yu-Gi-Oh! are the moster designs, sort of like pokemon. I build my decks around cards with cool artwork, and mainly watch the series to see what some of the newer cards look like in an anime. Aside from that, the card game is a complex game that has grown to have near unlimited deck combinations, unlike the pokemon TCG, which just ditches the old cards when new ones come along.
What are your thoughts on Arc V? I'd like to watch it someday?
Discuss the most recent episode and your thoughts~. Same as above^ :P