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There are plenty of newer bands that are carrying on the 80's metal sound, but they're almost entirely from Europe and Japan (and if they're from North America, they're undoubtedly more popular in those parts of the world and especially popular in South America). Bands like Sonata Arctica, Hammerfall, Blind Guardian, Dragon Force, and Rhapsody of Fire are all very popular metal bands that are heavily influenced by vintage Iron Maiden.
If you like progressive metal (which usually has a lot of vintage Metallica, Megadeth, and Iron Maiden influences), there are bands like Dream Theater, Symphony X, Pain of Salvation, Opeth, and Devin Townsend. The guest artist roster in Ayreon's albums is a who's who of the modern progressive metal scene.
Metallica's last album (Death Magnetic) and Megadeth's last couple (United Abominations, Endgame) are true to their roots, unlike most of the crap that they spewed between 1995-2005.
A good way to find "new" bands with a more classic sound is to see what members of older bands have been up to. Many have solo or side projects worth checking out. Here's a few
U.D.O.- (ACCEPT)
BROKEN TEETH (DANGEROUS TOYS)
HARD ROAD (MOXY, KILLER DWARFS)
JON OLIVA'S PAIN (SAVATAGE)
Also, most classic bands still record new stuff, though you won't hear it on the radio.
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