I have seen copies in the young adult rack at the library that keep getting replaced regularly, so I imagine they are.
As for authors with simular classic quest type books among the new authors, may I suggest;
Garth Nix, The Abhorsen Trilogy, The Keys to the Kingdom series.
Neal Shusterman's Everlost series
Phillip Pullman Dark materials series, which includes The Golden Compass.
Robin Mckinley's The Hero and the Crown, (first book, Damar series) & the Blue Sword.
M. D. Ireman, The Axe and the Throne
A few older books series very similar in nature to Eddings are;
Dave Duncan (A Man of his Word series)
Guy Gavriel Kay's Fionavar Tapestry.
Elizabeth Boyer, World of Alfar series, The Sword and the Satchel, et al.
Charles DeLint, Jack the Giantkiller, and Jack of Kinrowan.
And if you like spooky, The Last Apprentice series by Joseph Delaney (a newer author), has thirteen books.