Of all the things in a man's personal style, scent is one of the hardest to get right. It should be noticed without overwhelming. It should last from the moment you put it on until you close your eyes at night. A great cologne will even change over the course of the day, just like how the flavors of a good spirit shift as you drink it. It should enhance your visual and your personality. As a sense, smell can be as powerful as how you look and what you say.
My new personal favorite isn't new. Terre d'Hermès has been available for almost twenty years, but it remains highly regarded even by the lifelong aficionados on BaseNotes – the web's biggest scent forum.
Terre d'Hermès has hints of orange peel, cedar, pine, and vetiver, with nice, moderate sillage (the trail it leaves behind you).
Find a sample in a magazine or in-store. As with any cologne, wear it before determining whether you like it or not – scents smell differently on everyone, and what it smells like in the tester bottle isn't what it will smell like on you.