On the subject of "top" power metal bands, I find the genre to be pretty lopsided these days, and most of the "big" bands aren't half as good as some of the newer (meaning come about since the late 90s) bands:
-Primal Fear
-Nocturnal Rites
-Firewind
-Dungeon (will sing this band's praises forever. 4 of my favorite power metal albums, period.)
-Labyrinth (fell off for a bit, but the new album is as strong as anything they've done)
Of the old bands I think Blind Guardian still holds up by far the best, as "The Edge of Time" has actually become one of my favorite records by them, but most of the other stand-bys of the genre have trouble releasing anything I care too much about anymore. I respected Strato's "Polaris" a lot for what they came back from to make it, but it still doesn't ever get spun anymore. Edguy have moved in a more hard rock direction but I still genuinely like what they're doing. Gamma Ray had an amazing 5 album/10 year run, but I think LOTF II was a step down and the new one a step further down. I think Kai has just about written everything worthwhile at this point, it's just burnout. Helloween aren't doing too bad, "Gambling with the Devil" was their best in years I think. Kamelot isn't even power metal enough for me to think of them as power metal anymore, but even still, their last two were a bit of a step down from The Fourth Legacy through The Black Halo in my eyes. Sonata Arctica are crap anymore in my opinion, and the existence of Hammerfall and Iced Earth anymore is just unnecessary in my opinion. Loved them when I was first getting into the genre years ago, but I can't tell you the last time I genuinely wanted to listen to anything they've put out since 2005-ish (save for Iced Earth's Ten Thousand Strong). Angra's last album didn't do too much for me, and thus far I'm not blown away by the new one, though I'm sensing it may grow on me, so I don't wanna call it now.
...And I think that just about covers my thoughts on the core of the power metal genre. I'm sure there's something here for everyone to find and bitch about.
