Check out The Washington Post's Holiday Guide 2008. This section lists the best books for of 2008 for kids, pre-teens, and teens.
Has anyone seen ABC3D? I've seen it at the top of a bunch of lists, and it looks like a beautiful book. I'm thinking of buying this for my daughter but am not sure if it can withstand toddler hands.
Also, check out the Post's Gift Books Section. It includes a gallery of both children's and adult books they call Visual Feasts. My shopping list just got longer.