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Here's how I think about it:

Let's say you thought North America was the best continent (since it has the best country ever in it, the United States). So to answer whether it is truly the best continent, think about this. If someone put the name of every country in that continent on different pieces of paper, and threw them in a hat, what are the chances you'd get a country that has a stable government and economy and good living conditions? A lot lower than Europe. If that's the method you're going for, then it's Europe. If you're counting significance and contributions to the world in modern times, it's Europe again (although the U.S. has done quite a bit).

So yeah, I'd go with Europe.