The Romance Writers of America have the best compilation of romance information. They also give out the most respected awards. This year's winners were just announced here.
For the most fun romance resource on the web visit the Smart Bitches Who Like Trashy Books.
For romance newbies, Neal Wyatt’s “Alert Collector” column In RUSQ (47, no.2) entitled “Core Collections in Genre Studies: Romance Fiction 101” is a great starting point.
The Romance Reader has reviews broken up into genres. The are assigned stars and signed by the reviewers. Find a reviewer you like and follow them.
Romantic Times has their reviews available online here and their list of recommended reads here. The recommended reads page allows you to search their best reviewed books.
Finally, all you paranormal romance fans can click here.