A formal analysis has been done by Phil Rogaway in 2011, here. Section 1.6 gives a summary that I transcribe here, adding my own emphasis in bold (if you are impatient, then his recommendation is use CTR mode, but I suggest that you read my paragraphs about message integrity versus encryption below).
Note that most of these require the IV to be random, which means non-predictable and therefore should be generated with cryptographic security. However, some require only a "nonce", which does not demand that property but instead only requires that it is not re-used. Therefore designs that rely on a nonce are less error prone than designs that do not (and believe me, I have seen many cases where CBC is not implemented with proper IV selection). So you will see that I have added bold when Rogaway says something like "confidentiality is not achieved when the IV is a nonce", it means that if you choose your IV cryptographically secure (unpredictable), then no problem. But if you do not, then you are losing the good security properties. Never re-use an IV for any of these modes.
Also, it is important to understand the difference between message integrity and encryption. Encryption hides data, but an attacker might be able to modify the encrypted data, and the results can potentially be accepted by your software if you do not check message integrity. While the developer will say "but the modified data will come back as garbage after decryption", a good security engineer will find the probability that the garbage causes adverse behaviour in the software, and then he will turn that analysis into a real attack. I have seen many cases where encryption was used but message integrity was really needed more than the encryption. Understand what you need.
I should say that although GCM has both encryption and message integrity, it is a very fragile design: if you re-use an IV, you are screwed -- the attacker can recover your key. Other designs are less fragile, so I personally am afraid to recommend GCM based upon the amount of poor encryption code that I have seen in practice.
If you need both, message integrity and encryption, you can combine two algorithms: usually we see CBC with HMAC, but no reason to tie yourself to CBC. The important thing to know is encrypt first, then MAC the encrypted content, not the other way around. Also, the IV needs to be part of the MAC calculation.
I am not aware of IP issues.
Now to the good stuff from Professor Rogaway:
Block ciphers modes, encryption but not message integrity
ECB: A blockcipher, the mode enciphers messages that are a multiple of n bits by separately enciphering each n-bit piece. The security properties are weak, the method leaking equality of blocks across both block positions and time. Of considerable legacy value, and of value as a building block for other schemes, but the mode does not achieve any generally desirable security goal in its own right and must be used with considerable caution; ECB should not be regarded as a “general-purpose” confidentiality mode.
CBC: An IV-based encryption scheme, the mode is secure as a probabilistic encryption scheme, achieving indistinguishability from random bits, assuming a random IV. Confidentiality is not achieved if the IV is merely a nonce, nor if it is a nonce enciphered under the same key used by the scheme, as the standard incorrectly suggests to do. Ciphertexts are highly malleable. No chosen ciphertext attack (CCA) security. Confidentiality is forfeit in the presence of a correct-padding oracle for many padding methods. Encryption inefficient from being inherently serial. Widely used, the mode’s privacy-only security properties result in frequent misuse. Can be used as a building block for CBC-MAC algorithms. I can identify no important advantages over CTR mode.
CFB: An IV-based encryption scheme, the mode is secure as a probabilistic encryption scheme, achieving indistinguishability from random bits, assuming a random IV. Confidentiality is not achieved if the IV is predictable, nor if it is made by a nonce enciphered under the same key used by the scheme, as the standard incorrectly suggests to do. Ciphertexts are malleable. No CCA-security. Encryption inefficient from being inherently serial. Scheme depends on a parameter s, 1 ≤ s ≤ n, typically s = 1 or s = 8. Inefficient for needing one blockcipher call to process only s bits . The mode achieves an interesting “self-synchronization” property; insertion or deletion of any number of s-bit characters into the ciphertext only temporarily disrupts correct decryption.
OFB: An IV-based encryption scheme, the mode is secure as a probabilistic encryption scheme, achieving indistinguishability from random bits, assuming a random IV. Confidentiality is not achieved if the IV is a nonce, although a fixed sequence of IVs (eg, a counter) does work fine. Ciphertexts are highly malleable. No CCA security. Encryption and decryption inefficient from being inherently serial. Natively encrypts strings of any bit length (no padding needed). I can identify no important advantages over CTR mode.
CTR: An IV-based encryption scheme, the mode achieves indistinguishability from random bits assuming a nonce IV. As a secure nonce-based scheme, the mode can also be used as a probabilistic encryption scheme, with a random IV. Complete failure of privacy if a nonce gets reused on encryption or decryption. The parallelizability of the mode often makes it faster, in some settings much faster, than other confidentiality modes. An important building block for authenticated-encryption schemes. Overall, usually the best and most modern way to achieve privacy-only encryption.
XTS: An IV-based encryption scheme, the mode works by applying a tweakable blockcipher (secure as a strong-PRP) to each n-bit chunk. For messages with lengths not divisible by n, the last two blocks are treated specially. The only allowed use of the mode is for encrypting data on a block-structured storage device. The narrow width of the underlying PRP and the poor treatment of fractional final blocks are problems. More efficient but less desirable than a (wide-block) PRP-secure blockcipher would be.
MACs (message integrity but not encryption)
ALG1–6: A collection of MACs, all of them based on the CBC-MAC. Too many schemes. Some are provably secure as VIL PRFs, some as FIL PRFs, and some have no provable security. Some of the schemes admit damaging attacks. Some of the modes are dated. Key-separation is inadequately attended to for the modes that have it. Should not be adopted en masse, but selectively choosing the “best” schemes is possible. It would also be fine to adopt none of these modes, in favor of CMAC. Some of the ISO 9797-1 MACs are widely standardized and used, especially in banking. A revised version of the standard (ISO/IEC FDIS 9797-1:2010) will soon be released [93].
CMAC: A MAC based on the CBC-MAC, the mode is provably secure (up to the birthday bound) as a (VIL) PRF (assuming the underlying blockcipher is a good PRP). Essentially minimal overhead for a CBCMAC-based scheme. Inherently serial nature a problem in some application domains, and use with a 64-bit blockcipher would necessitate occasional re-keying. Cleaner than the ISO 9797-1 collection of MACs.
HMAC: A MAC based on a cryptographic hash function rather than a blockcipher (although most cryptographic hash functions are themselves based on blockciphers). Mechanism enjoys strong provable-security bounds, albeit not from preferred assumptions. Multiple closely-related variants in the literature complicate gaining an understanding of what is known. No damaging attacks have ever been suggested. Widely standardized and used.
GMAC: A nonce-based MAC that is a special case of GCM. Inherits many of the good and bad characteristics of GCM. But nonce-requirement is unnecessary for a MAC, and here it buys little benefit. Practical attacks if tags are truncated to ≤ 64 bits and extent of decryption is not monitored and curtailed. Complete failure on nonce-reuse. Use is implicit anyway if GCM is adopted. Not recommended for separate standardization.
authenticated encryption (both encryption and message integrity)
CCM: A nonce-based AEAD scheme that combines CTR mode encryption and the raw
CBC-MAC. Inherently serial, limiting speed in some contexts. Provably secure, with good bounds, assuming the underlying blockcipher is a good PRP. Ungainly construction that demonstrably does the job. Simpler to implement than GCM. Can be used as a nonce-based MAC. Widely standardized and used.
GCM: A nonce-based AEAD scheme that combines CTR mode encryption and a GF(2128)-based universal hash function. Good efficiency characteristics for some implementation environments. Good provably-secure results assuming minimal tag truncation. Attacks and poor provable-security bounds in the presence of substantial tag truncation. Can be used as a nonce-based MAC, which is then called GMAC. Questionable choice to allow nonces other than 96-bits. Recommend restricting nonces to 96-bits and tags to at least 96 bits. Widely standardized and used.