After moonshower's glowing recommendation, I had to read
Mistborn for myself. It took me a while to get past the first 50 pages... I read a bit here, a snatch there for a day or so. But then I reached the part where one of the protagonists is learning magic... and got hooked. I finished it that night... technically the following morning, since I didn't put it down till I was done at 6am.
The magic system has a beautiful internal consistency. The most powerful magic users, the mistborn, can use metals as fuel for their abilities; their abilities are described in excellent detail... no vague hand-wavy spellcasting here. And it's not just the use of magic that is explained so well... the way magic users fit with the world is just as consistent.
The primary way mistborn fight is by magically shoving metal around by "burning" iron or steel. Iron pulls, steel pushes. Yanking away the sword from a fighter is child's play for a mistborn, as well as throwing the poor soldiers sword back at him in a most violent way. But powerful nobles employ lesser mages and normal folk specially trained to counter mistborn, who are by no means invincible. It's much harder to fight someone who wields obsidian or wooden weapons and wears no metal.
But enough about the magic. Beautiful as it is, without a compelling world and interesting characters it would be nothing. And the author doesn't disappoint. The world is a dystopia of feudal lords, choking ash, and listless vegetation. But despite that, the people and characters are vibrantly alive and well rounded. Thieves and outcasts living on out outskirts of society, all with different motivations, they are very distinct. I have a difficult time keeping characters straight sometimes; with this book, I had no issues at all.
And the antagonists... the steel inquisitors, the immortal emperor. They are a little over-the-top, and thus not quite as believable as the protagonists. But they still fit within the world wonderfully, supporting the atmosphere of hopelessness that a millenia of enslavement and subjugation would bring.
All in all, this is a superb book, and apparently the start of a trilogy. It stands well on its own though. Book two,
The Well of Ascension, is already out in hardcover; I nearly bought it for moonshower on Monday, but she voted against it. We have the first in paperback, and it's always annoying to mix book types in a single series.