I could recommend one series, which would probably take you a while to tear through:
Malazan Book of the Fallen
Think you know epic fantasy? Well, unless you've already read it, you don't have a clue just how epic fantasy can get. Possibly disregarding his new series (prequel of sorts, taking place in the same universe but much earlier), The Kharkanas Trilogy, which I have yet to start, MBotF is simply the best piece of fiction I've ever read. Nothing else comes even close. As far as I'm concerned, Steven Erikson is the god of fantasy literature, completely in a class of his own.
His friend, Ian C. Esslemont writes novels placed in the same world (they created it together, originally as an RPG world), which are also very, very good.
Oh, and on the light novel front, I could recommend Rakuin no Monshou. Well, not entirely sure if it classifies as a "light" novel, but regardless, it's the best thing I've yet to read in Baka-Tsuki. Too bad the translation is stalled...