The best massage place (still) in my opinion is Hero, at the end of the left-hand fork of Sukhumvit Soi 11. They always have between 30 and 40 gorgeous, talented guys on hand, and the captains are very candid about who is good at what.
Other good ones are Albury and Aqua. Nice Guys has its fans and its detractors, as do Banana Boys, A-Men, V Club, etc. etc.
Address details on all can be found at:
Dreaded Ned's Site
All of these places work the same way. You pay a massage fee to the house. This fee is usually 350 to 500 baht. At Hero, it's 500 baht, which includes the use of its extensive sauna facilities (best jacuzzi in town). Use of the sauna facilities without a massage is 180 baht.
After the massage, you pay a tip directly to the massage boy. As noted, the tip is usually in the 1,000 to 1,500 baht range. Most places specify a "minimum tip" of 500 or 700 baht -- but this really is a bare minimum and not considered generous if you have a decent time.