There's been a few great bands coming through SLS Studios or Dusk Music Video Production lately that I've had the good fortune to work with.
Hemina was already mentioned - I wouldn't call myself a prog fan particularly but I enjoyed how the EP came up. Some great melodies and clever arrangements. We should be doing the full-length album later this year too.
Grey Waters - I can't even describe what this stuff is like and let the description do it justice. Check out
http://www.myspace.com/greywatersband - the EP we did was sort of depressive alternative post-grunge / britpop / metal ... sorta ... The new album that we're tracking now is immense - there's electronic stuff, real strings and piano... all kinds of stuff.
Chris Brooks - if you guys don't know about Chris then you're totally missing out. He is in my opinion one of the best rock guitarists to ever come out of Australia, full stop.
http://www.duskvideo.net.au/chrisbrooks.php
A few people mentioned Voyager. Every time we tour with those guys I remember why they're up there as one of our biggest exports - absolute class.
I reckon Darker Half are really one to watch too. They've come along leaps and bounds from the first time we shared a stage a few years ago and I think if they keep getting better at this rate, they'll be one of our top drawcards in no time.
There's been a few others than have come through the studio or we've met on tour that have made me sit up and go "woah, this is great" but I'm having a major mental blank right now, so I'll likely come back to this thread later.