Quite a few of my favorite albums of the past year are obscure enough that I feel like I need to link to the bands as I doubt any of you have likely heard of them. A lot of the best music is being made under the radar right now (actually always.) There are a few bigger indie releases that were good too.
Legendary Pink Dots - Your Children Placate You from Premature Graves
Black Happy Day - In the Garden of Ghost Flowers
King Kong Ding Dong - s/t
Orbit Service - Songs of Eta Carinae
Hunny - Synaesthesia
Pere Ubu - Why I Hate Women
Yo La Tengo - I'm Not Afraid of You and I Will Beat Your Ass
Wolf Eyes - Human Animal (which surprises me, as they've never overly impressed me before)
Reek of Influence comp on
Icky Recordings (full disclosure, my band is on it, but I like the rest of it at least as much)
Women Take Back the Noise comp on
Ubuibi (fucking awesome - 3 discs and not one bad track!)
Sonic Youth - Rather Ripped (not my all time fave, but still a damn good record)
Celebration s/t (actually came out in 2005, but I just saw them and got it)
War of the Species compilation on Severed by Records (no URL!)
Gowns - Dangers of Intimacy
Childhood Friends - Scars (not actually out yet, but they're my friends so I have an advance copy)
Acid Mother's Temple - The Other Side of the Sky
Oregone compilation on Oregone label
Zoe Keating - One Cello x 16: Natoma
Oliver Squash - s/t e.p.
George & Caplin - Things Past
Gricer - s/t
Skullflower - Tribulation