I'll echo what many have said that the Sacrifice Chloe choice is the "good" ending, since she keeps dying in different ways throughout the story and it's related to the incoming storm and balancing the universe again. I'm very satisfied with that unfortunate choice I had to make. But good came out of it since Nathan and Jefferson are going to jail.
As for destroying Arcadia Bay, it's too bad it wasn't fleshed out more due to those time and budget constraints. Not sure what the developers had in mind but here's what I'd have liked to see. After the storm destroys the town, Chloe and Max go down to see the aftermath. They see dead bodies everywhere, including Warren and Chloe's mom. At seeing this Chloe breaks down and Max embraces her. You see this look on Max's face like "oh boy did I do the right thing?"
Cut to one year later and Chloe and Max are in the big city on a road trip. Chloe and Max have just finished eating and are at a crosswalk. Behind them a couple dead birds fall out of the sky, freaking out passersby, but they take no notice. Chloe begins to walk across the street and gets ran over by a speeding car, killing her instantly. Max screams and rewinds time, the first time since the big storm, then frantically pulls her back. Chloe's like "what the hell-" then the car zooms by, and she realizes oh shit and embraces Max.
Chloe starts crying "Jesus Christ I thought this was over with." Cut to Max's face, she's thinking to herself "no, no, no..." and a trickle of blood comes from her nose. Cut to credits.