Yes. A thousand times, yes.
Also, no one has mentioned Neil Gaiman, to my knowledge. Neverwhere, American Gods, and Anansi Boys wonderfully bring mythology into the present day, and Gaiman is always good for clever twists, great dialogue, dark humor, and interesting characters.
This may be the wrong board to recommend these books since they aren't in the same genre at all, but Jonathan Strange and Mr. Norrell by Susanna Clarke is a beautiful fantasy that makes you fall in love with the old folk tales and fairy stories all over again. I can't praise it enough. And if you've never read anything by David Mitchell, you are truly missing out. His style is completely his own, varying wildly depending on who the narrator is. More than any author I've ever read, he disappears into his characters, and his prose is always beautiful. He includes fantasy and sci fi elements in his novels, especially Cloud Atlas, but I wouldn't call him a fantasy author. I recommend anything he writes, especially Cloud Atlas and Black Swan Green. I'm sure these aren't perfect, but if there's a flaw, I can't find it anywhere. He also loves to give characters from his books cameos in his other books, and it's always in a clever, unexpected way that gives you an insight into that character.