So a new RPG has hit the RPGNow website: Hands of Fate
It's a game focusing on collaborative storytelling and fast, brutal combat. Most of my players so far have come close to death several times, and this has made them think far more about what they do in combat than other games. You get hit with a sword, there's going to be consequences!
Also features several different types of magic, a couple being free form. There's no classes and no levels, and very easy to build characters.