Yes, Rania is beautiful--she is stunning. I think she looks exquisite, but, it is undeniable that nose surgery had a big hand in it. So, even though she is gorgeous, my vote for most beautiful royal woman has to go to Crown Princess Maxima. I think she exudes grace and beauty--I can only describe her as Princess Grace-like. I really see a genuiness in her smile that I don't really see anywhere else. Rania is beautiful, but very restrained. Maxima is, well,I just can't explain it, but she has it.
Younger royals who are stunning are the York girls and Charlottee Casiraghi--in totally different ways. Charlotte gest to wear YSL (sigh) and is just one heck of a gorgeous girl. The York girls look exactly as English princesses should--fresh faced, beatiful skin, gorgeous hair. They got the best attributes of both their parents.
I was just re-reading some posts from like, page 12 and 15 or something, and I have to say that while I think Diana was lovely on her wedding day and up til a bit past Harry's birth, I don't know so much about after that. I thought she was just stunning when her hair had a touch of length, more body (but not big hair body), and she had a bit more fullness in the face. I think she looked better with a touch of weight and clothes that were not quite so form-fitting and hair that was so short. But, she was beautiful, and stunning--I just liked how she looked in the early eighties better. She had a softer touch, so I would have to say that Diana, the early years as a princess would be top on my list as well.