"American Gangster is a 2007 crime film written by Steve Zaillian and directed by Ridley Scott. The film stars Denzel Washington and Russell Crowe. Washington portrays Frank Lucas, a real-life heroin kingpin from Harlem who smuggled the drug into the country in American service planes returning from the Vietnam War. Crowe portrays Richie Roberts, a detective who brings down Lucas' drug empire."
... being the lazy person I am, I simply copied and pasted the synopsis from Wikipedia.

Anyways, the film was released last Friday (November 2, 2007) in the United States. I'm not sure when it releases internationally or anything, because I don't keep up with that.
I went and watched in Friday night and I can say that it is one of my favorite movies released this year. I believe that Denzel Washington gave a stellar performance, as did his counterpart Crowe. Though the movie is a little bit on the long side (2 hrs and 37 minutes!), I sat through the movie with a surprising amount of ease. Usually, I lose interest in long films, but this one was paced so well that I was engrossed almost the entire time. There WERE a few moments I pulled out my cell phone to check the time, but that was just because I was on a strict curfew.
So far it's been received quite well, and personally I suggest that if you haven't that you go and see it.
Wiki:
http://en.wikipedia.org/wiki/American_Gangster_(film)
IMDB:
http://www.imdb.com/title/tt0765429/ 