Epic fantasy? What does that even mean?

Yesterday I finished the final draft of The Prince of Lies – yay! – which inevitably left me feeling more than a little punch-drunk, like I’d been hit round the head with a 135,000-word manuscript…So I goofed around on Twitter a bit, and whilst chatting about book lengths and genre I realised that fantasy really needs a new name for a rather common sub-genre.

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I raised this on Twitter, suggesting “cloak’n'dagger” as an alternative. I got some great (not always serious) alternative suggestions:

The Streets of Darkness
Hooded Figure Fantasy
Poignards’n'privies (very apt in my case!)
Mock-Tudorpunk
Grime’n'punishment
Alchemical romance (by analogy with Wells’ “scientific romance”)

What do you think? Do we need a new label for non-epic, non-contemporary fantasy?