I updated my list and these are my favourite designers right at the moment (in no particular direction
Narciso Rodriguez for keeping a perfect balance between intricate construction and craft with simplicity and effortless chic... almost all of his clothes make sense and can be worn to any ocassion, I guess his are probably the best dresses a woman can have, they follow from daytime to evening without ever looking too dressy or too formal. I especially love how the backs of his clothes are just as much - or even more - detailed than the front.
Nicolas Andreas Taralis for his approach of mixing the sartorial, sometimes experimental tailoring with grounded staple pieces like an easy jersey top or a great pair of pants/jeans. I think especially now that Helmut Lang is no more in business himself, there's a desperate need for someone to do profound staple pieces like Helmut or Jil did them... Nicolas' are beautifully executed but are different in that they cater a younger client that has probably never really experienced wearing a beautifully made "menswear" jacket or a pair of flat front pants (I definitely see a return towards dress pants and his are the best I have found).
Sophia Kokosalaki for her recognizable craft, it's remarkable how identifiable her clothes are, without doubt the draping and pleating which I think she does best in the industry... I absolutely loved her gold lamé dresses this winter but basically everything since A/W 2003. I also like how she balances the haute craft with a streetwise, rock edge... I think that's what makes her clothes really contemporary and modern, the mix of old craft (think Fortuny, Grès, Vionnet) and pop/rock culture.
Jens Laugesen for having found a way to melt his conceptual approach with an easy wearability... his S/S 2006 and F/W 2006 collections had both been strong and convincing. He would have been my personal first choice at either Jil Sander or Helmut Lang as a suitable replacement for these heavyweights. Let's hope that he is building up his authority steadily as a (London) highlight, he definitely deserves it.
Bruno Pieters, because of his awesomely refined clothing and attention to detail, I am curious to see how he will translate his vision in menswear but guess that I will be a happy client in the future personally...!
Olivier Theyskens, for his unique poetic qualities... I am normally not a big fan of a designer doing too much of storytelling with the clothing (although Olivier is doing it only very subtly) but you simply cannot do much else than fall in love with his clothes, his are without doubt the best and most finely executed clothes that money can currently buy, each fabric, each hand-dyed colour a sensation in itself without even taking into account the intricate cutting. I love how he brought in a relaxed, effortless allure to Rochas without losing the couture spirit of the house. These are definitely clothes that deserve being labeled as Haute Couture even though they are actually ready to wear.