The real Person of the Year
Yes, authoritarianism is not hot, though few tyrants wear a wifebeater shirt quite as well. Time did a good job of making Putin look like a bobblehead doll on its cover, but I wholeheartedly agree with Chris that the cover would have best gone elsewhere.
My choice? Garry Kasparov. The only thing that has kept this opposition leader alive under the Putin regime is the fact that he's a chess legend. The fact that he's a chess legend also makes him totally hot, shirt or no shirt. Kasparov could have comfortably retired and kicked back for the rest of his life, but he's taken the challenge to fight for freedom for the Russian people. He is truly David vs. Goliath. He has cojones.