I believe Nobuo Uematsu is composing most if not all of Final Fantasy XIII, I expect great music from that game

really, I heard he was composing most of something, it must have been FFXIV

It died with the 90's.

Also, other things became more important like graphics, cinematics, etc.

@ spartan

He is doing the entire XIV track.

OT:

While the music hasn't been as good as last generation, it certainly has been good.

Hitoshi Sakimoto did a great job on Valkyria Chronicles and Infinite Undiscovery.

Takeharu Ishimoto did a fantastic job on Crisis Core and TWEWY.

Uematsu did great on Blue Dragon and Lost Odyssey. (Blue Dragon's Boss Theme will forever live on in eternity)

I liked the music from Uncharted, LittleBigPlanet, Warhawk and Lost. But it's totally true that music is lacking a lot in video games nowadays. Actually, when I remember of old games I liked, they all had awesome musics...

They're not as catchy as they once was. Still, this doesn't means there isn't great OST these days. Shadow of the Colossus, Halo, Civilization 4, Super Mario Galaxy, God of War and Kingdom Hearts are examples of great modern videogame OSTs.

There just hasn't been any Final Fantasy games yet this generation

This man speaks the truth. It's sure that when you take the Zelda theme for example, well, it will stick to your mind because it was one of the first great themes in the video game world! You just don't want to get used to new stuff, eh? =P

I disagree, simply because of what Khuutra said and this:

Team Fortress 2 anyone?

http://www.youtube.com/watch?v=5eDGD7kwsxM

Go listen to the God of War 1 and 2 soundtrack. Every single song is memorable and classic. There are a few more games too that have awesome music.