On occasion there are still great bands on the charts. U2's new album did pretty well. The Pink Floyd and Beatles compilations...um...that's about it for this year and last year.
As for the underground scene just go to some concerts in your local area. There's a chance you might hear a good band. Around here there are a few people that have talked about a group called Widespread Panic. I haven't heard them yet but I'll look into it.
Back in the day I used to listen to a lot of Industrial bands. Industrial is basically electronic music that's actually good (I bet you didn't know that was possible but it is) but you should know they still use the guitar in a lot of Industrial. The only Industrial bands that have actually reached a large audience are NIN and Manson (Industrial fans will argue over whether those two are actually industrial). The rest is underground and a lot of them aren't around anymore :( Check out Skinny Puppy, Ministry, Pop Will Eat Itself, and KMFDM. Songs you should look into: Skinny Puppy-Worlock, Ministry-Psalm 69, Pop Will Eat Itself-Wise Up Sucker, KMFDM-Juke Joint Jezbell . KMFDM and Ministry are still around. PWEI is gone but Clint Mansell has a solo career. Skinny Puppy broke up and formed several different bands.