Bumping old thread,
Led Zeppelin, specifically Jimmy Page.
for Ten Years Gone, he used 14 different guitar tracks for the harmony section. When you listen to the song, you really hear the genius behind the instrumental part. Other obvious examples of composition genius include Stairway To Heaven, Dazed And Confused, etc.
Next, Pink Floyd (all of them), I really need to post nothing to prove this. Listen to Dark Side of The Moon, Wish You Were Here, Animals, etc.
A current band that should get tons of recognition for musical genius has to be Edward Sharpe and the Magnetic Zeroes. Now, since everyone has already heard Home:
Listen to the entire album From Below, definitely one of the best albums from the past ten years.
Arcade Fire, specifically the album Neon Bible:
All of their albums are amazing, but Neon Bible is a masterpiece.
Some others:Radiohead, Lou Reed, The Smiths, Jimi Hendrix, Black Keys.
all of this is my opinion, and inb4 being called a hipster.