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Ponyo
The newest Hayao Miyazaki film (Spirited Away, Howl's Moving Castle) and in my opinion the greatest of all animated filmmakers. This one is probably his best yet. I kind of hate anime as a rule, but his style is just brilliant. Anyone else see Ponyo?
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I haven't seen it, but I really should because his style is just truly poetic. Spirited Away is one of the best animated films I have ever seen.
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I heard this one wasn't up to par for a Miyazaki film, but a bit of an interesting retelling of "The Little Mermaid".
I know of a place to view it online in a less than legal fashion if anyone is interested >.>
Miyazaki's partner and co-head of Studio Ghibli, Isao Takahata, is also very good. I recommend his 80s film Grave of the Fireflies, it's about a pair of orphans trying to survive in WW2 Japan.