I've only heard a couple of dozen 2005 albums (it's mostly been a year of buying jazz), but the latest album by My Morning Jacket is the clear standout for me so far. If you've heard any of their previous albums and didn't like them, it doesn't matter -- this one sounds like a totally different band. "At Dawn" was about alt-country mixed with emo-meets-Crazy Horse guitar workouts and "It Moves" emphasized a hard southern rock influence. "Z" is... Neil Young crossed with The Band crossed with the Flaming Lips crossed with Grandaddy crossed with Mercury Rev. It's immaculately produced and very creative. It's also quite cheap for a new release (I got mine new in the store for $8.99) Check out metacritic.com for reviews.
I'd recommend this to pretty much anybody whose interests encompass creative non-prog rock music, and if you like Wilco or Flaming Lips, you need to get this one immediately.