[saintalfonzo]

There is no band you could call "The New King Crimson", that's part of the reason they are so great. For some newer music you could check out moe. and Umphrey's Mcgee. Maybe even a little Flaming Lips might entertain you. I can't really say any of these bands are really like King Crimson, but you might find something you like. I found Pocupine Tree to be a little too on the "trancy" side, although some of it is great.

 

[malldian]

^^Mars Volta was a very good call. Maybe I will look more into KC as I have only really heard two albums by them.