Mark Altrogge (Sovereign Grace/Forever Grateful Music) has just released the 9th album in the Hide the Word series - scripture memorization set to music: Walk Humbly. There are twenty scriptures (from the ESV) set to high quality contemporary music. Each verse is repeated at least three times, and the reference is given.
Canadian band, Down Here, who kind of exploded on the American Christian music scene last year with their song, How Many Kings has released a Christmas album; it includes the thoughtful HMK, along with as well as a remastered version of How Many Kings, 13 songs in total. I particularly like the reggae-ish "God Rest Ye Merry Gentlemen." Down Here is so different from many contemporary Christian artists. Their lyrics are thoughtful, Scripturally sound, with interesting harmonies and high quality musicality. They are currently the only contemporary Christian band that I "follow" (I'm a little uncomfortable with that term, but not sure what else to call it). The album is available on iTunes or you can order from the band directly. I'm already listening thanks to iTunes.