I'm a little under halfway through The Day Watch by Sergei Lukyanenko. It's the second in the Watch series, following The Night Watch. I started reading the first book (exclusively on the bus while going to and from work every weekday), a little over two weeks ago, and now am halfway through the second. I gotta say, I really like this stuff!
The series is very well-defined, and follows an unusual and original premise. I know I'll be picking up the next two books as soon as I've finished this one.
This is the kind of fantasy I've always wanted to read: set in modern times, and following some parallels with White Wolf's World of Darkness, but minus the Anne Rice-centric melodrama and angst. In a real World of Darkness (like the one written by Mr. Lukyanenko), the whiney, self-obsessed vampires would be slaughtered by the very desperate werewolves.