T editor in chief Stefano Tonchi cooked up a timely combo to celebrate the magazine's five-year anniversary: a party with its latest cover girl, actress-of-the-moment Carey Mulligan, at downtown's newly anointed hot spot, the Boom Boom Room at the Standard Hotel.

"The space is absolutely mind-blowing. It looks like Dr. No shagged some Russian oligarch," Simon Doonan concluded on his way out. "And I spent hours bonding wildly with Courtney Love! She has a very broad frame of reference." The same might be said of the venue, with its panoramic views of New York. Mulligan, who moved over from London a few weeks ago and is currently filming Wall Street 2 with Oliver Stone, was taking it all in—her shooting schedule had left hardly any time for fashion week outings. "I wish! I'm rubbish in high heels, actually."

Nearby, Thakoon Panichgul and Maria Cornejo decompressed. "The pressure was majorly on this year," Panichgul noted. "My knees were wobbling," Cornejo added. Thom Browne, meanwhile, was showing no signs of flagging: "I don't really take time off, until my body tells me to. The adrenaline and the Champagne kind of keeps it going." Well, for one more day at least.

— Darrell Hartman