good examples above, and van halen as a non example.
i would put the who in their too.
also billy corgan , james iha and jimmy chamberlain of the smashing pumkins had to me the best talent and chemistry ive seen in the past 20 years, especially in each song that ended with a incredible climax.
Good choices, I have always thought of Townshend as a bit overrated but when you have Entwistle, Moon and Daultrey you have on hell of a band. Pumpkins are also a great band that came from my generation.
I'm not the biggest fan of this band because, well, they were before my time, but nevertheless, here is an example of an awesome performance of musical talent:
Watch Palmer (percussion solo beginning at 2:48 mins. . . . insane!)
Sorry contemporary music fans I just don't see much out there these days.
A lot of what I would've said has already been mentioned (Cream, Red Hot Chili Peppers, Deep Purple, Hendrix, etc.), but I noticed one that nobody's mentioned as of yet.
Excellent rock/metal list. Iron Maiden probably at the top of that one... and of course, you can't have this conversation without mentioning Rush and Led Zeppelin.
More modern era-ish, I would add a few of my favorites:
Death (metal masters of musicianship)
Tool (vastly underrated lineup, great drums, guitar, bass)
Down (again, great musicians across the board, kind of an all star band)
i was gonna say zappa with any band he had.
he knew how to pick em.
but i gotta agree with the op and chuck van halen aside.
their early roth studio stuff was great but in concert where it counts they were kinda lame.
check out this guy.
any band he played with he was the best drummer, bassist and guitar of the bunch, but he had to choose just one instrument, usually the gee-tar.
if you dont know who he is you should find out.
Sonic Youth.
It is remarkable to hear Lee and Thurston's guitar's leap and tear at each other, their sonic echoes tearing at each other's heart. Meanwhile, Kim's bass ties into the both of them, pulling them together, as Steve's drums hypnotically keep the whole mess orderly.
Washing Machine is a great example - even though this is the last half of the song, Kim's monotonous - yet Morrisonesque lyrics - are blended with some terrific Lee and Thurston feedback, and Kim and Steve's steady beats.
I will be the first to name The Boys.
George really was a rather good lead guitarist. He was not the best, by any means (Clapton, Hendrix) - yet the afore mentioned two WERE rather influenced by the quiet one. John's actually played a rather mean and (I think) underrated rhythm guitar. Paul could play a very mean bass. While Ringo was not anywhere near the best drummer, I think he was pretty underrated steady drummer. Sometimes all a group needs is a good drummer who can keep the beat. All four were pretty good singers. And tying the group together was the rather stoic, yet daring and experimental George Martin, willingly taking the group to areas many feared to tread.
And finally, for at least one song...this group achieved musical perfection, with all members coming to complete, perfect harmony:
My last one, I leave you with Frank Marino and the Mahogany Rush with probably the most epic and uplifting song in the world. I can't help but think of an epic montage when I hear this song.