I'd probably throw out the Firm album, the Ill Will album, and honestly both Lost Tapes joints from the album rankings. It's impossible to compare compilation albums to proper albums as there's so much more thought put into the latter. Also, Magic 3 is too new and Magic 1 is too short. Through those one out. For sake of this exercise, throw out those.
I'd keep Nasir last, but again that's one of those odd 7 track joints that Kanye was obsessed with. Keep it last, but easily can be thrown out.
With that said (from last to best):
Nasir
Nastradamus
Hip Hop is Dead
Untitled
Street's Disciple (good album, at the time, but ding it for being a double album and not as many memorable joints)
Distant Relatives
Magic 2
KD 2
God's Son
KD 3
I Am
Stillmatic
Life is Good
It Was Written
Illmatic