One more vote for Reynolds. I only know Chasm City and Pushing Ice yet, but both were really great - especially the latter blew me away with its great execution of "to boldly go where no one has gone before".
And to get back to the original topic of fantasy:
A pleasant and unexpected suprise I recently stumbled upon are the Zamonia books by Walter Moers. Yes, the guy of "Little Asshole" and "Adolf, the Nazi Pig" comics fame.
I never expected that kind of stuff from him.
I finished "Rumo und die Wunder im Dunkeln" ("Rumo and His Miraculous Adventures") already and recently started "Die 13 1/2 Leben des Käpt’n Blaubär" ("The 13 1/2 Lives of Captain Bluebear").
Really inventive fantasy, sometimes quite dark and bloody (quite graphic), but with a great sense of humor, and his writing style is top notch - IMO better than a lot of the bestselling fantasy authors out there. From what I've read he's sometimes compared to Terry Pratchett, and while the differences are of course huge, the level of writing quality, humor and inventiveness are definitely something they have in common.
What's very refreshing to me is the "different feel" of Moers' fantasy - he seems to draw a lot from old german(ic) lore and literature and you don't find that often in modern fantasy...
I sadly don't know how good the english translations are. I'm afraid it's inevitable they lose a lot in translation. (again, just like Pratchett.
)