Dash Shaw just completed his web only work BodyWorld, a real trip of a story with love, violence, extraterrestrials, disasters and hardcore drug use. It's a great read and one that lives online very effectively (though it will be published in hardcover by Pantheon in 2010).
Formally the work is outstanding, and I especially appreciate Shaw's obsession with mapping the lives and geography of Boney Borough, a tiny town at the end of the rail line. Highly recommended.
I was the happy owner of Dash Shaw's big work and book of the year Bottomless Belly Button for about four hours before it was lost in a taxi cab... I need to pick it up again.