Though I haven't read his writing, I'm assuming that Blake Butler is the new shit because he has a book out from two of my favorite presses, Featherproof and Calamari. His book, Ever, is one of Dennis Cooper's favorites of 2009... so far. And, he edits HTML Giant.
You can now pre-order his newest book, Scorch Atlas, direct from Featherproof either "hand-destroyed" or "non-destroyed." (They allege that "both are fully readable.")