For classics, I recommend:
Mr. Wooster and the Restorative Preparation (http://community.livejournal.com/indeedsir/117550.html)

Everything (http://veronamay.livejournal.com/tag/j%26w+fic) by veronamay

This one isn't a classic yet, but it deserves to be one:
The Code of the Ganymede pt.1 (http://bertiebwriting.livejournal.com/1214.html) & pt.2 (http://bertiebwriting.livejournal.com/1495.html)

There are a number of good fics at Yuletide (http://yuletidetreasure.org/archive/fandom_p_g_wodehouse__jeeves_and_wooster_series.html), too.

For art, everything by lucylou. You'll have to seach way back in the archives here to find her J/W stuff, though you can see a few pieces here (http://www.lucyknisley.com/galleries/Illustrations/images?page=1). She also writes fics.