Just finished watching El Laberinto Del Fauno, or Pan's Labyrinth as it's international release is entitled. It's a unique, richly-imagined gothic fairy tale set against the postwar repression of Franco's Spain. I've read quite a large number of very positive reviews, but did stumble upon a few viewers who criticized the movie for being communist propaganda. Hm, not sure where they got that from. Anyhow, this one is definitely well worth checking out.
Update: the movie has won Oscars for Cinematography, Makeup and Art Direction, and rightly so!