RECENT WORKS ON THE KABBALAH are surveyed by Jay Michaelson in The Forward:

Kabbalah is so… last decade. I still remember the flush of excitement, confusion, appreciation and concern that I felt in 1998 when I first read that Madonna was going to The Kabbalah Centre, and that her new tour design featured kabbalistic imagery. Then came Demi and Ashton and Britney and Roseanne, and a whole decade of references on celebrity Web sites and articles in reputable mainstream magazines. By now, Kabbalah seems like old news.

Still, it hasn’t gone away — both the genuine article, which has been around for 800 years, and the popularized version — and so maybe it’s time to start taking pop Kabbalah seriously, at least as a cultural phenomenon. In fact, in at least three areas — introductions to Jewish mysticism, serious Kabbalah scholarship and new academics just coming of age — the past couple of years have been the most fertile for the production of Jewish mysticism in two centuries.

[...]

There follows a long listing of recent books on the subject. I'll just excerpt one paragraph:

Rachel Elior, chair of the Department of Jewish Thought at Hebrew University (where I am completing my own dissertation) has also produced a recent trilogy of career-culminating work: “The Three Temples: On the Emergence of Jewish Mysticism” (Littman, 2004), “The Mystical Origins of Hasidism” (Littman Library of Jewish Civilization, 2006) and, finally, “Jewish Mysticism: The Infinite Expression of Freedom” (Littman, 2007). The first two books are rewritings of some of Jewish mysticism’s most familiar origin-stories, those of the ancient Hechalot and Merkavah schools of visionary mysticism, and of the 18th-century revival movement of Hasidism. But it is “Infinite Expression of Freedom” that most grandly summarizes Elior’s overall theory of Kabbalah: that it creates a cosmic zone of freedom and power for an oppressed and marginalized people. The kabbalists were, as Elior points out, a subjugated group, victims of antisemitism, expulsion and often extreme poverty. And yet they constructed a world in which their actions maintained the universe itself.

I would add Daniel Matt's ongoing translation of the Zohar to the list.

On a related note, in case you're interested, I am currently working on an English translation of the pre-Kabbalistic Jewish mystical texts -- the Hekhalot literature. The project is well underway and I hope to get a lot of it done in my remaining couple of months of research leave. After that, research time will be scarce, but with luck I may have it out in the next couple of years.

UPDATE: Iyov comments.