This paper compares three candidate large-scale propagation path loss models for use over the entire microwave and millimeter-wave (mmWave) radio spectrum: the alpha-beta-gamma (ABG) model, the close-in (CI) free space reference distance model, and the CI model with a frequency-weighted path loss exponent (CIF). Each of these models have been recently studied for use in standards bodies such as 3GPP, and for use in the design of fifth generation (5G) wireless systems in urban macrocell, urban microcell, and indoor office and shopping mall scenarios. Here we compare the accuracy and sensitivity of these models using measured data from 30 propagation measurement datasets from 2 GHz to 73 GHz over distances ranging from 4 m to 1238 m. A series of sensitivity analyses of the three models show that the physically-based two-parameter CI model and three-parameter CIF model offer computational simplicity, have very similar goodness of fit (i.e., the shadow fading standard deviation), exhibit more stable model parameter behavior across frequencies and distances, and yield smaller prediction error in sensitivity testing across distances and frequencies, when compared to the four-parameter ABG model. Results show the CI model with a 1 m close-in reference distance is suitable for outdoor environments, while the CIF model is more appropriate for indoor modeling. The CI and CIF models are easily implemented in existing 3GPP models by making a very subtle modification -- by replacing a floating non-physically based constant with a frequency-dependent constant that represents free space path loss in the first meter of propagation.