Well, I went to see "Sin Nombre" and Almodovar "Broken Embraces" at the Rio last month.  The first was a great piece of work, but harrowing.  The second was frustrating; I usually dig Almodovar, but I couldn't get too excitied about that one, alas.
I also saw Terry Gilliam's "Imaginarium of Dr Parnassus" at the local multiplex recently, and it looked great but was a bit of a dog's breakfast of ideas. 

Here are some films that Ive seen recently on DVD that I recommend:
Le Petit Soldat
Pierrot le Fou
Une Femme C'est Une Femme  (all JL Godard)
Man Bites Dog (Poelevorde)
El Violin (Vargas)
3 Monkeys (NB Cetlan)
Ashik Kerib (S Paradjanon)
Vacas (Medem)
Porco Rosso (Miyazaki)
The Double Life of Veronique (K Klieslowski)
Yella (C Petzold)