What is the best glazing compound for wood windows in Southern
California?

Google (groups) is your friend. Use it!
Found this under "best glazing" search:

Remove the glass, clean out the mullions, and reset the glass in a bed of
silicone. Use just enough silicone to ensure the glass is sealed, but no
more, as you'll have excess all over when you press the glass in. Let dry
overnight, and glaze with Dap's 1012 glazing. It's made for this purpose.