not directed at the original poster (thanks for the vid), but i agree. there's plenty of good music happening right now. Black Keys rock out...Bonnie Prince Billy is as awesome of indie/folk as you could hope to get, John Darnielle/Mountain Goats is one of the best storytellers I've ever heard.
granted, I listen to mostly old music...motown, stax, blue note, old blues stuff, hendrix, jeff beck, etc...but there's plenty of good music nowadays as well, whenever people bemoan the lack of good music they point to britney spears and soulja boy, and that's just not valid!