There isn't a great deal of discussion on a lot of the newer releases, so I'm wondering what do people keep an eye on, as far as new VGM releases go.

For me, the strings of retro releases is something I constantly keep an eye on. They've really been ramping up and hitting those back catalogs pretty hard the past couple years. I think my recent favorites have been the Rockman Box 2 and the 3 Sega System 16 releases. It's a high quality problem when there are too many coming out to keep track of! Based on some responses here, I did pick up the Nintendo Famicom Music compilation and while I'm not thrilled about the music not broken up separately, the sound quality is probably the best on any of the prior releases (although the Game Sound Museums aren't THAT far off and I prefer those for Kid Icarus, Metroid, Zelda II and SMB3 for the tracks being broken up).

Nintendo deserves a shout-out. The quality of their releases (especially the newer Mario games) has been among the more consistant I've found recently. Pokemon X and Y also had a great soundtrack, which surprised me because the series hadn't done much for me up until then (I'm on the fence with the Alpha/Ruby remake because I didn't think the original was anything special) I'm looking forward to the Smash Brothers release.

There's a Hard Corps: Uprising soundtrack release this month. That's about it for me. Too much other non-vgm to buy.

I just picked up Okami Arrange Vol. 2 Jazz, which released midway through this month.

It's excellent: top-notch, very well adapted arrangements into jazz quartet with surprises -- by an American Berklee alum named Zac Zinger. Zinger performed in the VGO, many of us saw live and he sounds like he's been playing for a lifetime. Unlike his largely sequenced/arranged Monster Hunter Big Band production of a few years back, Okami's outing is fully band performed, by many young virtuosos and very well done, even if you're not second-hand to Okami's original material -- that's how fantastically arranged it is. It won't garner much fanfare since Okami doesn't have the glitter nor attention of a time-tried classic Capcom headliner, but it is the most brow-raising VGM arrange to come along in awhile in this very arrid playing field as of late.

I sold Monster Hunter Big Band shortly after I bought it as, aside the sax performances, it was a little dull. It never really caught on beyond Monster Hunter's extensive arrangement catalog zeal never clinging to US audiences including myself (and I think jazz tends to turn off most here).

If you dig Keys of the City (an elusive arrangement album under KOEI's catalog -- I still need this one if anyone wants to sell me one), you will feel this one needs to be in your collection.

Honestly, I  just don't keep track of VGM releases AT ALL anymore.
Nowadays, I play a game, and if I like the music, I'll look around if there's an OST (planned) and get it.

If there isn't, then, well, there are alternative ways of obtaining the music.

I've pretty much lost interest in ASTs because of this as well.

Only release on my radar is the Legend of Legacy OST. I doubt the game will be localized, so at least I can enjoy the music. From what I've heard I get feelings of Sigma Harmonics mixed with bits of Unlimited Saga. I skipped FF13 so I don't know if this is what Hamauzu's sound is like now.

The newest Kiseki albums by Falcom. I just ordered the whole lot of them from AMZ JP (love the exchange rate).

Haven't heard LoL yet, but FF13 was very different from Sigma Harmonics.
I personally got the feeling that Square told him to keep things "normal and palatable" and basically try to repress his own style as much as possible for FF13, because most of it is pretty "safe" orchestral stuff.
If LoL is more like the "real" him, I'm definitely interested.

I picked up the mini soundtrack that came with the game off yahoo. Tracks like Avalon and Initium have me really interested in the rest of the soundtrack.