Aspen has always mixed snow with stars. Jon Bon Jovi, Kurt Russell, Goldie Hawn, Elle Macpherson, Vanna White and Michael Eisner were all there. And Jack Nicholson joined Ed Bradley, Reggie Jackson and a hundred or so other luminaries at the most exclusive New Year’s Eve bash in town, at Freedom–the club so cool it doesn’t even have a sign out front. Old movies played inside (“Goldie loved “The Wizard of Oz’, " says the owner), and jeans were the dress of choice. David Koch’s new wife apparently scaled back his annual 1,000-guest bash (maybe to help pay for that new $9.5 million New York apartment, formerly Jackie O’s?). And at the members-only Caribou Club, owner Harley Baldwin figures he sold $50,000 in champagne alone.

But for all its celebrity-packed, Bulgari-dripping glitz, some things in the old silver-mining town haven’t changed. Lana Turner’s favorite milkshake, the Aspen Crud, is still the best booze at the Hotel Jerome bar.