There are a lot of very good young bands. In no particular order:
Arcade Fire Besnard Lakes Los Lonely Boys--really liked their first album and not much else so far Drive-By Truckers--Have been around for awhile (mid 90s), but I've just discovered them. Derek Trucks Bands--not exactly new either, but DT may be the best guitarist on the planet Steve Malkmus and the Jicks (just missed them in NYC) Iron and Wine--also not so new, but I've just discovered them
Like Vampire Weekend, but they haven't blown me away. They were fun live. I am "Of Montreal" myself :-) , but I didn't dig the bands earler releases and haven't heard the new one yet.
My son is really into Arcade Fire. His band does covers of some of their songs, which I really like.
Los Lonely Boys were fun at first, weren't they? Haven't heard much lately...I do like the first Iron & Wine stuff but now that he's not recording solo in his basement anymore it isn't quite as fresh and quirky.