Ditto on Zen's stories (the House of Aunts is awesome!)

Ken Liu's stuff is brilliant and deserves to be on awards list: my favourites this year were "The Paper Menagerie" in F&SF: http://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&ved=0CCcQFjAB&url=http%3A%2F%2Fpodcastle.org%2F2011%2F07%2F12%2Fpodcastle-165-the-paper-menagerie%2F&ei=AxMjT4WGAYfKhAeq-JndBA&usg=AFQjCNFF8uN9pCQunGMTXWXwra_U0VWErw

And his novella "The Man Who Ended History: a Documentary" is the single most brilliant and heartbreaking thing I read last year. http://kenliu.name/binary/liu_the_man_who_ended_history.pdf

Rochita Loenen-Ruiz's short story "Return to Paraiso", in the last issue of ROF, is also pretty good (couldn't find a copy online).

I've been really behind on reading novels, though, so can't help there...