It was forty-three years ago that the crème de la crème of New York society turned out for the legendary Black and White Ball thrown by Truman Capote at the Plaza Hotel, a party that became known as “the party of the century.” Well, guess what—we’re in a new century now, and the New Year’s Eve Black and White Ball at the Chelsea Art Museum, produced by Josh Wood, Tony Fornabaio and Brandon Voss, the powerhouse triumvirate behind the recent resurgence of New York nightlife, proved that there’s a whole new pack of sexy A-listers who know how to carouse with as much panache and élan as anyone on Truman’s guest list.

The invitation that went out with its suggestive Bruce-Weber-like photographs stated “just be hot, and preferably in black or white”—and the boys who packed the Chelsea Art Museum well before midnight were exactly that: a fashion photographer’s dream shoot. Dressed in velvet and satin, in tuxes and knickers, leggings and leather, with bowties and cufflinks, chains and waistcoats, wearing watch fobs and boutonnieres, these boys channeled Noel Coward and Beau Brummel by way of P. Diddy, resulting in a stunning display of sartorially sexy sass (and ass).

Shequida was a vision in white satin and feathers, and host Josh Wood equally stunning in black tux—and stunning, too, were the go-go boys wearing black top hats and white cuffs (and very little else) who populated the boxes strategically placed around the massive main floor of the museum. Mirror balls hung from the lighting trusses as green lasers quivered and shivered over the dance floor. The art had been removed—the better to let the live statuary, Adonis and David and their brethren, bump and grind as spotlights shadowed their exquisite silhouettes on the light-splashed walls.

In short, to wander through this Black and White Ball was to feel a part of a Hollywood film with art direction by Vincente Minnelli and rooms by Dorothy Draper. Welcome back, glamour; we’re ready for our close-up.

Everyone was drinking—champagne and Absolut—and eating black caviar in the VIP bar, from the balcony of which we could watch DJ Lina working the Lounge with her inimitable sexy deep house blend. Mark Berkley mingled while Damiano Frascaroli manned the bar with his customary calm beauty as champagne corks popped.

Meanwhile, on the Main Floor, DJ Corey Craig was working through his arsenal of the year’s most popular tracks, from Black-Eyed Peas to Lady Gaga to Beyonce and beyond, insuring that everyone on the floor was singing along—and then counting down as Shequida and her corps of sexy go-go boy proctologists got ready to birth a new year.

Confetti bomb, champagne, kisses and noisemakers—and everyone cheering the end of a lousy decade and the start of the new. Everyone was happy. Laughing and smiling—and opening their pants. Yanking down their britches, copping a feel. Exposing their booty and grinning as they bared it. No more Mr. Niceguys—apparently in this new year, it’s all about Mr. SeewhatIgot and Mr. Wantsome. Yes—and yes. Let’s make that perfectly clear. Yes—it was all about yes.

Rumors flew; she was in the house—and she was, wearing a gorgeous black-and-white gown with stiletto heels. Ms. Deborah Cox took the stage to roaring applause—and if she’d wanted (but she didn’t) she could’ve lip-synched the entire concert—because everyone in the audience knew all the words—and sang along with her. Songs like “Easy As Life” and “Things Just Ain’t The Same” and “Absolutely Not”—songs that might well have been some of the best parts of the past decade.

As Truman Capote wrote after the conclusion of his Black and White Ball back in 1966, “[it was] a galaxy of masked black and white guests…whirling like a flurry of snowflakes.” It was everything Capote wanted it to be: “a party for my friends,” which is what this year’s New Year’s Eve Black and White Ball felt like: a party for those in the know, who knew enough to follow the vision of Josh Wood, Tony Fornabaio, and Brandon Voss—and ring in a new decade with sexy class. Here’s to 2010—and a whole lot more fun from the three of them.