I've never really gotten into them much, but the few I have enjoyed were Sandman, The Dark Tower and The Walking Dead. Some of Miller's stuff is ok like Sin City and Batman, and some of Gaiman's other stuff like Stardust and X-Men 1602. Marvel Zombies is somewhat amusing.
When it comes to manga: Appleseed by Masamune Shirow (the Ghost in the shell guy) Akira by Katsuhiro Otomo Battle Angel Alita by Yukito Kishiro (The Last Order series is like an alternate ending) Planetes by Makoto Yukimura Gunsmith Cats by Kenich Sonoda Other stuff: Tintin Any Scrooge story by Carl Barks or Don Rosa (If you were ever a fan of Ducktales look these guys up.) No Hero by Warren Ellis and Juan Jose Ryp
I haven't seen Watchmen mentioned yet in this thread. I don't really read much in the way of graphic novels but Watchmen is fantastic. Also I'll second The Crow. Dark no doubt and full of emotion and every bit as brilliant as the movie if not more so.
A bit late to get in on it now but they may still do subscriptions, The marvel graphic novel collection is reprinting some classic story lines on a fortnightly basis which are pretty good quality (if you like superhero stuff that is). I'm not sure the name of the company that does it, eaglemoss maybe? Can check when I get home. The pro The boys/herogasm All by garth ennis are brilliant too.
The only ones I've read so far are Watchmen The Colour of Magic/The Light Fantastic Bleach Naruto I did start collecting the Marvel Graphic Novel collection (got about 12 odd books) before I missed a couple and left it.
Another big +1 for the sand man, it's just awesome - and there are a number of non-arch titles too - "the dream hunters" is probably my favourite. Manga - Blade of the Immortal.
The Walking Dead was good, you'll see that Andrea is WAY awesome in the comic. Sin City is very good, I particularly liked the 'A Dame to kill for', 'The big fat kill' and all the other chapters with Dwight McCarty. Berserk, a masterpice IMHO, one of these things that will make you FEEL emotions. The drawings are top notch with infinite details... One if the reasons why Miura release chapters every trimesters... When we are lucky. PS: if you like details, I also highly recommand you Zetman, Vagabond and Vinland Saga.
Sandman and Watchmen are the most notable ones to non-graphic-novel people, the ones that've broken out of the medium and gotten attention from wider literary types. They're excellent. Also, Tintin. I will always love Tintin; it has a lot in common with Sherlock Holmes, and like Sherlock Holmes it ages surprisingly well.