Mistborn

This one's got it all: its a fantastically unique setting, the characters are incredibly detailed and well-written, the plot is wonderful, and I really have nothing poor to say about this one. It even manages to avoid most of the YA cliches and traps!

This is a must-read, even if you're not much of a YA fan. Though it starts off in a fairly standard fantasy-ish magic-ish place, it quickly plots its own course. There's a very unique magic system, which is certainly interesting to see explored, and its a breath of fresh air to see the characters attempt at least the most obvious of "munchkining" rather than avoid using their magic for anything outside the norm.

The distopian elements are interesting and well-handled. Its not V for Vendetta level dystopia, it's a much less heavy-handed take. Classism abounds and is a large focus of the plot, but it isn't taken to the gratuitous extreme.