We use General Quarters 3 for WW2, and its WW1 offshoot Fleet Action Imminent for WW1. For us it hits the sweet spot of enough complexity to make the game interesting, but not so much that it takes forever. I really like the way the rules encode most of the complex stuff into the charts, and that there are no damage points; ships take damage to their various systems.
We've also used Naval Thunder (which is OK but you will have ships exploding left right and centre), War at Sea/Age of Dreadnoughts (Ok but not very historical) and and old homebrew set (also OK, but it uses points and is a bit too bloody).