People are buzzing about Cole Mohr but as for me, I think the most sickly fabulous male model of the moment has to be Ash Stymest. He's edgy and he's all over high fashion magazines in the market. He was naked on the cover of March 2009 Dazed & Confused along with Eliza Pressly, cross-dressing and smoking like he doesn't give a shit.
One word: Fierce.
Photo from fashionisto.com