I think any lit horror forum should have a thread like this up and running.

I'm currently into the fourth and latest book in Christopher Golden's "Shadow Saga" titled THE GATHERING DARK. I think Golden has proven himself to be one of the best contemporary dark fantasists around today. I'm only talking out of my own limied experience, of course, but this guy's imagination is running overtime. In THE GATHERING DARK you have the world slowly being taken over by hell, with demons slipping through the cracks in reality for wholesale massacres and entire cities disappearing from the map of the earth into alternative dimensions of hell. You have all manner of hideous creatures and ghastly gore going on. It's up to a handful of powerful magicians and good-guy vampires to save the day. This is a really cool book that is a riot to read if you can go for this stuff.
Can be read on its own but if you are keen on dropping into this universe where magic and the supernatural co-exist with our political reality you should start with the first in the series, OF SAINTS AND SHADOWS. Highly recommended.