From my own recent reading, here are a couple of recommendations:

• Baudolino by Umberto Eco, translated by William Weaver (Harcourt, hc, 522 pages, 2002, USA & Canada)
      This novel's eponymous protagonist is a linguist, adventurer, consummate liar and storyteller in the late 12th and early 13th centuries. He is such a convincing liar, in fact, that he seems to fool even himself into believing his own lies. The story is completely engrossing until the point when Baudolino sets off in search of Prester John (in answer to a letter Baudolino, himself, drafted from the mythical Priest-King of the East). Oddly, it is when Baudolino and his friends encounter unlikely creatures and geological impossibilities that the story begins to grow stale. I guess some tales are just too tall to swallow. Nevertheless, this is still a very worthwhile read, even if it bogs down a bit in the last third or so.
  SF Site Review

• Shatterday by Harlan Ellison (Berkley Books, mm, 282 pages, 3rd printing 1983, USA & Canada)
      The stories in this collection are selected from the period of 1967 to 1980, and cover a pretty broad spectrum of Ellison's work. Each story is introduced by the author. 20 years later, this collection stands the test of time. Even if some elements of a story seem a bit dated, the heart of what he writes about is still beating strong. If you aren't afraid to touch the raw nerves of humanity served up by the master of short fiction, you could do much worse than to have a look at this selection -- if you can find a copy.

(Books are listed alphabetically by author. Only books received are noted.)

Prince of Ayodhya: The Ramayana, Book 1 by Ashok K. Banker
Warner Aspect (hc, 392 pages)
Publication date (forthcoming): August 2003, USA & Canada

In the Hall of the Martian King by John Barnes
Warner Aspect (mm, 295 pages)
Publication date: 1 June 2003, USA & Canada

Darwin's Children by Greg Bear
HarperCollins UK (hc, 389 pages)
Publication date: 2 June 2003, UK

The Other Side of the Sky by Arthur C. Clarke
Gollancz (mm, 245 pages)
Publication date: 12 June 2003, UK

Reach for Tomorrow by Arthur C. Clarke
Gollancz (mm, 166 pages)
Publication date: 12 June 2003, UK

Honour Among Punks by Guy Davis & Gary Reed
ibooks graphic novels (trade)
Publication date: June 2003, USA & Canada & UK
   The complete Baker Street collection. First published in 1998.

Beyond the Hanging Wall by Sara Douglass
Tor (hc, 336 pages)
Publication date: July 2003, USA & Canada
   First published in Australia & New Zealand in 1996.

The Elder Gods: The Dreamers, Book 1 by David & Leigh Eddings
Warner Aspect (hc, 404 pages)
Publication date (forthcoming): 14 October 2003, USA & Canada

Vic and Blood by Harlan Ellison & Richard Corben
ibooks graphic novels (trade, 128 pages)
Publication date: June 2003, USA & Canada & UK
   Subtitled "The Continuing Adventures of A Boy and His Dog," this is an illustrated collection of material dating from 1969 to present.

Murder in LaMut by Raymond E. Feist & Joel Rosenberg
Voyager, HarperCollins (mm, 324 pages)
Publication date: 2 June 2003, UK

Crucible of War edited by Marc Gascoigne & Christian Dunn
Black Library (mm, 288 pages)
Publication date: June 2003, USA & Canada
   A collection of Warhammer 40,000 stories.

Felaheen: The Third Arabesk by Jon Courtenay Grimwood
Earthlight (hc, 357 pages)
Publication date: May 2003, UK
   Sequel to Pashazade and Effendi, both excellent reading.
SF Site Review of Effendi

Misspent Youth by Peter F. Hamilton
Pan, Macmillan (mm, 440 pages)
Publication date: 7 July 2003, UK

The Stars As Seen from this Particular Angle of Night edited by Sandra Kasturi
The Bakka Collection, Red Deer Press (trade, 114 pages)
Publication date: 9 June 2003, Canada & USA
   An anthology of speculative verse, with forward by John Rose, introduction by Phyllis Gotlieb and aftwerword by James Morrow.

Skavenslayer by William King
Black Library (mm, 320 pages)
Publication date: May 2003, USA & Canada
   A Gotrek & Felix Warhammer novel, first published in 1999.

On Crusade: More Tales of the Knights Templar edited by Katherine Kurtz
Warner Aspect (mm, 294 pages)
Publication date: 1 July 2003, USA & Canada
   First published in 1998. See also the Kurtz-edited anthologies Tales of the Knights Templar and Crusade of Fire.
SF Site Review

High Cotton by Joe R. Lansdale
Golden Gryphon (trade, 267 pages)
Publication date: July 2003, USA & Canada
   Selected stores of Joe R. Lansdale, first softcover reprint from Golden Gryphon, first published in hardcover in 2000.

Honour of the Grave by Robin D. Laws
Black Library (mm, 284 pages)
Publication date: June 2003, USA & Canada

A Voyage to Arcturus by David Lindsay
Fantasy Masterworks #37, Gollancz (trade, 280 pages)
Publication date: 12 June 2003, UK
SF Site Review of the Bison edition

The Fifth Sorceress: The Chronicles of Blood and Stone, Book 1 by Robert Newcomb
Bantam Books (mm, 896 pages)
Publication date: 3 July 2003, UK
SF Site Review

The Gates of Dawn: The Chronicles of Blood and Stone, Book 2 by Robert Newcomb
Bantam Books (trade, 467 pages)
Publication date: 3 July 2003, UK

Nexus by Thomas Olbert
Artemis Creations (e-book, 216 pages)
Publication date: 2003, ebookad.com

The Wee Free Men by Terry Pratchett
Doubleday (hc, 320 pages)
Publication date: June 2003, UK & Canada

Foreigners and Other Familiar Faces by Mark Rich
Small Beer Press (chapbook, 68 pages)
Publication date: June 2003, USA

Rising Storm: Terminator 2, Book 2 by S.M. Stirling
Gollancz (mm, 469 pages)
Publication date: 12 June 2003, UK
SF Site Review of T2: Infiltrator

The Wreckage of Paradise: Trilogy of the Fallen, Book 3 by Greg Stolze
World of Darkness, White Wolf (mm, 285 pages)
Publication date: July 2003, USA & Canada

The Orion Protocol by Gary Tigerman
William Morrow, HarperCollins (hc, 336 pages)
Publication date (forthcoming): 25 November 2003, USA & Canada

One Lamp: Alternate History Stories from The Magazine of Science Fiction & Fantasy edited by Gordon Van Gelder
Four Walls Eight Windows (trade, 352 pages)
Publication date (forthcoming): September 2003, USA

The Cage of Nine Banestones: The Pearl Saga, Book 3 by Eric Van Lustbader
Voyager, HarperCollins (hc, 629 pages)
Publication date: 19 May 2003, UK
SF Site Review of The Ring of Five Dragons, Book 1

A Better World's in Birth! by Howard Waldrop
Golden Gryphon (trade, 51 pages)
Publication date: July 2003, USA & Canada
   An alternate history story, in signed & numbered limited edition chapbook.

Miracle Visitors by Ian Watson
Gollancz SF Collectors Edition (trade, 239 pages)
Publication date: 19 June 2003, UK & USA & Canada

Blood & Steel by C.L. Werner
Black Library (mm, 288 pages)
Publication date: July 2003, USA & Canada

Magazines

Horror Garage, #7, USA & Canada
Contributors to this issue include: Norman Partridge, Mark McLaughlin, Joe Konrath, Steve Vernon, Dana Soloman, Jack Fisher & Harry Shannon, plus and interview with Joe R. Lansdale.

Lady Churchill's Rosebud Wristlet #12, June 2003, USA
Contributors to this issue include: Jan Lars Jensen, David Erik Nelson, Ursula Pflug, Richard Parks, Nick Mamatas, Lena DeTar, Jennifer Rachel Baumer, Philip Raines & Harvey Welles, Christoph Meyer, Cara Spindler, Nancy Jane Moore, Anne Sheldon.