For sure Transatlantic must be on top of any list of "Today´s Prog-Rock Classics" (+ each members and their original bands) - Neal Morse (Spock´s Beard), Mike Portnoy (Dream Theater), Roine Stolt (Flower Kings) and Pete Trewavas (Marillion).
+ 1 to what both you and Peco submitted. DT are one of my favs and I can always return to 'Adam & Eve' by the FKs when everything else sounds stale.
Another band that deserve a nod in this category would be Fates Warning, who never got the recognition they were due not only for their musicianship, but for serving as an inspiration for DT and other bands who later 'popularized' prog again.
Others I'd add include Shadow Gallery, Enchant, Liquid Tension Experiment, and (with some hesitation) Queensryche.
Bands that I think could've been contenders had they lasted a bit longer are Lemur Voice and Wrathchild America (the latter had leanings more toward heavy metal, but still managed to mix it up stylistically as well).
Insights is a gread disc from Lemur Voice. Divided is also good (if you manage to find a copy), but is not nearly as good as its predecessor. They only released two albums.
Wrathchild America only put out 2 albums as well. "Climbing the Walls" features a great cover of Pink Floyd's "Time", but the follow up album "3-D" displayed more diversity. The thing I remember most is that they threw in a little taste of jazz in an instrumental number, which was very unique for a band seeded in thrash metal. Side note: Lead vox are a little grating.
I listened to Divided shortly after I asked the question.. I liked but the problem with these bands seems to be the vocals, the "voice lines" to be more specific; for my taste, at first listening, the instrumentals sounds great, the tracks are good then the vocals change the "tone" of the whole thing.. maybe I'm being too generic here, but that's my impression of many "similar bands".. even the DT has some weak vocal lines, I think some tracks are great without vocals.. I'll check "Insights" as you suggested Epic, thanks for the reply!! Gonna listen to "Divided" again too.. :p .. Loved the Band Name!! I'll check The Wrathchild America. thanks..
I was listening to "Lightbulb Sun" of Porcupine Tree.. it's one of "the big 6" of today.. plus the albums graphics are one of the best I've ever seen!
How about Opeth? On recent albums they have moved ever nearer to prog. Also, I think Porcupine Tree and Steven Wilson can be considered alongside the others mentioned.
Cool to hear Opeth mentioned. Last offering I have from them is Damnation. Curious to know what other releases you've heard - at this point this one is pretty dated :-) .
Listen to Watershed, is their most balanced record in my opinion.
If I can say my opinion, Opeth actually are the greatest progressive metal and progressive rock band.
I think this is quite impressive, as they easily topped both areas. This demonstrates that genres are insignificant for great composers.
Damnation is a progressive rock record, no way out. No cookie monsters, no metal amps. Sometimes gave me goosebump almost like The Musical Box did in my teen.
And what can I say about Blackwater Park, or Deliverance? Same.
But in my opinion, it's impressive that 50% of best avantprog come from groups with Dave Kerman as member: U-Totem, 5uu's and the magnificent Thinking Plague.
Another thing (excuse me, I don't have a linear way of thinking, it's my fault): I think King's X are underrated. Somebody said they're more arena rock than prog, but can't see the foundation in this opinion. Maybe they're not the best, but sound more modern than a lot of neo-classical (intended as faithful to 70s) prog bands.
I think prog rock needs to rejuvenate a little, maybe with electronics, maybe turning with decision to more adventurous landscapes. Or it starts to sound like rap, which is always the same since 1979. So, boring. And it's the worst thing in progressive, it's a genre so complex and strongly based on surprise factor you really can't listen to a record and guess exactly what's in next song because the scheme is always the same.
OZRIC TENTACLES...DOCTOR NERVE...DJAM KARET...PLANET X...FLOWER KINGS....MARS VOLTA.....SPOCKS BEARD...PORCUPINE TREE...David Allen's - " UNIVERSITY OF ERRORS "....SHIP OF FOOLS..TEA PARTY....Ebeling Hughes to name a few favorites.