Dragon Force just released a new album, The Power Within. I'm not a big fan, but it ain't bad and it qualifies as new 2012 power metal.
The one I'm really looking forward to is Diablo Swing Orchestra's 3rd album, Pandora's Piņata, due next month. I'm not sure how to classify this band. You'll either love or hate 'em, there really isn't a middle ground.
A Youtube commenter describes DSO as "Bizzaro World Nightwish" and that's as fit a description as any.
Diablo Swing Orchestra, Vodka Inferno