One of the best I've heard recently is The Lonesome Sea by Wayne Robbins and the Hellsayers. Sad that it has almost no distribution or press because it's really a nice album. Probably comes closer to that magic sound of After the Gold Rush than Neil could get today, but still never sounds dated. A little of that "Helpless" flavor in the chorus of the second song. Guess they did some shows opening for My Morning Jacket so that's a good comparison too. But closer to the Songs: Ohia take on Neil Young, maybe. Not the totally melancholy Molina as on Didn't It Rain that I love the most, but the more twangy and hopeful one that made Magnolia Electric Co so good. Kind of like Doug Martsch and his Built To Spill take on Neil Young, but more lap steel. And Doug's quirky and mystical, but loveable take on the world around him. And they do let loose on occasion with the full arsenal of noisy guitars, which always makes me smile. Like on the third song "Jesus", which starts out slow and acoustic sounding but takes off into Spiritualized meets Crazy Horse territory in the second half after they crank up the guitar amps. Good lyrics too, even if I don't always know quite what the songs are about. Only 10 songs and a couple do go on a little longer than they should, but the rest is golden, especially for a debut. Kind of self-released so not widely available, although one of the band members stopped by Rave Recs and said they should be getting some wider distribution soon. But do a search and buy it from Wayne...it'll make you happy. Pretty nice sound and not all compressed like most modern rock.
Also another favorite from a few years ago that I've mentioned around here is Still by Sue Garner and Rick Brown. Very diverse and eclectic mix of trip hop, indie pop/rock, avant-folk, Tortoise-like loopy electro-organica, and maybe even a couple nods to the Fall. Nice CD. Maybe too far reaching at times for their own good, but lots to like. Recorded with some of their friends including Chris Stamey of the DB's, Douglas McCombs of Tortoise, Tara Key and Doug Weiselman in the couple's home studio. A little along the lines of Yo La Tengo but with a more diverse sound. They even do a pretty cool and very minimalist cover of John Lennon's "It's So Hard" that's nearly a cappella with only a plucked bass as accompaniment. This is one that has really stood up well for me over the last few years. I don't think it garnered a lot of critical acclaim but I play it all the time and now it's like an old friend. Lots of very nice ambience on this one. Recommended, even if you aren't looking for HDCDs.
And while I'm here, might as well mention some other old favorites that have probably already shown up in this thread, like Hum Downward Is Heavenward and Modest Mouse The Lonesome Crowded West and ...