Those who are known for their acting skill in the current crop of Hollywood stars/starlets include (in no particular order) Russell Crowe, Denzel Washington, Leonardo Di Caprio, Daniel Day Lewis etc etc - (this is a very short list and just an example). Feel free to add your own.
This thread is really just about who your favourite actors would be at the moment, if you have any. Also, who you think are overrated actors and underrated actors. This would mean current actors working in films released nowadays. (I'm simply arbitrarily laying this rule down, we could make another thread for past actors).
Actors means both men and women in this case (Thread title is too damn short) :O
My favourite actors in no particular order
Russell Crowe - Gladiator was a true epic. Crowe is pretty much superb in anything he does. I wish he did more films.
Peter O'Toole - A living legend. Both on screen and stage. The definitive Shakesperean superstar. If any of you haven't seen any of his recent work, go and download or rent Venus. It's one of the best films of recent times and just to make it even better it was written by the superlative Hanif Kureshi.
Ian Mckellen - Gandalf. Nuff said.
Denzel Washington - This guy is really starting to come into his own as he matures. He did the whole "cool cop" thing for a few times, and cool seems to be the word here. Denzel Washington is just cool as fuck.
Cillian Murphy - For my yank friends you probably know him as scarecrow in the new Batman films, where he puts on a terrible American accent yet remains fairly interesting regardless. I'm a terrible film addict, and Ireland has some truly fantastic films - if you saw them I'm pretty sure you would agree. I'm not just saying that out of "patriotism" - it's true. Ireland is pretty good at art! Murphy is in a few fantastic Irish films, the most notable of which are Intermission (An absolute must see), Breakfast on Pluto (an absolute must see), The wind that shakes the Barley (An absolute must see).... You see where I'm going with this. Don't let that piece of shit Red Eye taint your impression of this guy's brilliance.
Cate Blanchett - I watched the film I'm not there a while back. It's the one about Bob Dylan, sort of. In a steller cast including Bale and Ledger, Blanchett is easily the star of the show. This woman is fantastic.
Christian Bale - A little bit of a vanilla choice here. But he's Batman for christ sake. Also, American Psycho, The Machinist and the little fact that he's John Connor in the new Terminator. He's a solid lead, but I do hope he doesn't become a moron and start doing simple big budget films and does a little more oddball acting like that seen in American Psycho. Otherwise I'll have to remove him (oh I'm sure he'll care so much
)Jack Nicholson - Ok he was better when he was younger but he's still Jack Nicholson for christsake.
Leonardo Di Caprio - He was superb in the fantastic Romeo and Juliet. I hated Titanic, but I was young and haven't seen it in about 8 years. He's getting better as he gets uglier. This guy is probably underrated because of his looks. Which is a shame. He is a class act.
Robert De Niro - Yes, like Nicholson his best days are behind him, but he's surprised everyone by being almost alarmingly good at being funny and not just a total hard motherfucker.
Gary Oldman - Oldman has been amazing in so many films there is no point even going into this choice in any further detail.
Clive Owen (mainly for Sin City) - Shoot'em'up was shit though. I think he's a quality lead though. Not as good as most of the other people on this list though (maybe he will prove me wrong though - he is fairly likeable)
Kevin Spacey - American beauty is one of the best films of our generation. He does a lot of duds, but he's a great stage actor too, I appreciate that. He is also just "cool". (Also very definitely gay).
Ok there are more but I'll maybe add some more or go into more detail if there are any replies that don't include Winnow or Midnyte shitting up the thread.
Overrated actors - I'll explain why
Brad Pitt - I was never a fan of Seven like so many others were. Yes it was a good film, but not a great film. He was Tyler Durden, so for that reason alone Brad Pitt is awesome. But frankly I am sick of seeing him in shitty gossip magazines at my girlfriends house, or see yahoo news shitting itself everytime he even so much as picks his hoop near Angelina Jolie. Also, the "oceans" films were fucking awful. Way to get a load of talented actors and do nothing but show them being smug idiots for what, nearly 5 hours of screentime? Pitt looks like he has an ounce of self respect and should be appearing in a few actually good films in the coming year. Hopefully.
Angelina Jolie - Tomb Raider, Wanted, Mr and Mrs Smith. This woman hasn't been in a good film in almost 20 years. She is of course hot, but so are lots of women, big fucking deal over nothing. Wow, she has tattoos and is alternative because she has children from places most of us haven't travelled to. Yawn. Not so much an actor as wank bank material (true).
Al Pacino - Sorry everyone! But Pacino should try making a film worth watching that wasn't made 15 or more years ago. Also stop being "Al Pacino" in every film you're in. I also apply this to De Niro to a degree, but at least he has a quality comedic streak. If De Niro is tired of the hard hitting acting jobs I can accept that - he's proven himself. As has Pacino in the past. But the past isn't now, yet he's still churning out the same old increasingly rusty looking garbage.
Shia LeBouef - Connected silver spoon child that looks a little lost and vulnerable which women and closet homosexuals (I'm looking at you Spielberg!) seem to love. There's no excuse for Disturbia. Although I still haven't seen the latest Indiana Jones film, so maybe he is good in that? I enjoyed Transformers but not because of him. (Megan Fox + Optimus Prime
)Tom Cruise - My main issue with Cruise stems mainly from the fact that he is a total and utter lunatic who needs to shut the fuck up and make a film that's enjoyable without the audience having to consciously ignore the fact that a dwarf in a mental cult is somehow the superhero/athletic protagonist.
Johnny Depp - Johnny Depp is a great actor. Really he is. Apart from that piece of shit Fear and loathing in Las Vegas that celebrated the life of a moron counter culture fuckwit. I actually really quite like Johnny Depp. The problem is that I'm just bored watching him volunteering to play out whatever cinematic fucking threesome goth fetish Tim Burton has in his head this week that involves Depp being married to that untalented ugly motherfucker that is Helena Bonham Carter Burton Depp whatever her name is. If there's a more stale formula for a blockbuster around than seeing Burton direct Depp and Bonham-Carter through a two hour romantically linked "wow ITS VERY BLACK AND SORT OF CREEPY AND UNNERVING BURTON HAS A SICK MIND" kind of film then I haven't seen it. (I liked Sweeney Todd, I'm only joking, but the point remains). Also, Pirates of the Caribbean is not as good as everyone thinks it is. The last one was fucking awful and had a play time of about 5 months. For that matter, Orlando Bloom is shit too. So is Keira Knightley.
Mike Myers and Eddie Murphy - Riding on former glory's isn't working. Both of these assholes need to stop making films. Wayne's World was genius, Shrek 3 is not. Morons.
Those assholes who make films like Knocked Up and Superbad - Michael Cera is marginally interesting because he is comically inept and goofy, and the chick from Juno is maybe interesting because she is hot but doesn't act like it and has a clear voice. Hollywood sees money in an ALT FART JOKE TEEN WITH A TINGE OF EMOTION INDY genre so these morons, to the virtual exclusion of everyone else, are being given blank cheques to make movies that are unfunny and about an hour too long. Self indulgent, mindless, pseudo intellectual bullshit. I especially detest that unfunny fat little fuck who drew cocks in Superbad - he needs to die in a fire. Anyone who's typecast for essentially dragging out the following joke for 2 hours over about 3 films is a fucking embarrasment.
"CUNTS LOL PUSSY BITCHES I DRAW DICKS AND I SAY RUDE WORDS EVEN THOUGH IM YOUNG AND ON SCREEN DICK DICK DICK PINKEYE DICK ABORTION"
Yeah we get it tubby, you're edgy and don't play by anybody's rules, Hi fucking larious. Except not at all. American Pie was funnier and more relevant than anything these assholes shit out. The worst one is Seth Rogen. How this asshole became a hollywood star is fucking beyond me. "Mclovin" was funny.
For like 2 minutes.
I'll probably get criticized for that but hey, subjectivity, get over it.
Underrated Actors
Viggo Mortenson - Obviously. He's Aragorn! (Yes I like LOTR - although not Peter Jackson, but that's for another thread). He's been in some films that fly under the radar. He is always a total badass/hero.
Brendan Gleeson - Another Irish actor who is in a load of really fantastic films. 28 days later, In Bruges etc etc
Paul Giamatti - Hey, I liked Lady in the Water ok? And Sideways is a great film. (let's ignore shoot'em'up for the moment). Giamatti is a master of the "middle aged lonely 'good guys always come last' role.
Woody Harrelson - Cmon wise up, he's good........ sometimes.
Ron Livingston - Why is this guy not in more films?
Val Kilmer - Most people probably think Val Kilmer is shit. Most people probably haven't seen The Salton Sea.
Other musings
Edward Norton should make a good film sometime instead of phoning in every fucking character he ever plays.
Pearce Brosnan needs more opportunities outside of being typecast as a James Bond character (See The Matador for more reasons why this is so)
Samuel L Jackson should have retired after Pulp Fiction. It's actually embarrassing to watch now. He even made a film with the "lol im very very jewish and try to be down with the kids" american pie dad. Jesus fucking christ. I repeat, Jesus fucking christ. Sort it out Jackson, are you that poor that you need to do this? Also, you only have one character, and although it was funny, telling the same joke to people over and over is not.
Ewan Mcgregor should stop cashing in on Trainspotting and make a decent film. He's likeable, that's not an excuse to make shit films - Also he should stop making his motorcycle adventures less about his on again/off again romance with Charlie Boorman and more about the spirit of travelling.
Scarlett Johansson is hot but untalented.
Kiefer Sutherland should get more chances to play diverse roles because Jack Bauer is virtually the coolest character ever and extremely well acted. He's also a partying alcoholic drink driver in real life and if we are honest with ourselves we pretty much hope and expect that sort of thin from our rockstars and actors. (Paris Hilton not included because Paris Hilton is a fucking asshole who should be erased from everyones collective experience asap).
Christian Slater is underrated and needs to start appearing in films again that aren't shit.
Will Smith has the potential to be a truly great actor if he wants to be. The problem is he doesn't appear to be want to (I am legend should have been a stepping stone to more than cocking Hancock)
Thank fuck Peter Jackson isn't making The Hobbit, we won't have to endure an extended homo-erotic bastardisation of a cinematic interpretation of arguably some of the most beloved and interesting literature of the last century.
.....yeah ok, got a bit carried away. Boredom + drunk eh? (lol irish stereotype if you're a moron) This could be an interesting thread. Fire away if you want to contribute
I completely forgot about 12 monkeys and Snatch. 
TextPad - got a license in the mid 90s and work has a license now. It rules.