Battlecake Band is a rock band based in CMU that plays video game songs, but with a rock flair. They are pretty awesome, if I say so myself.

SCII Terran

BW Terran

FF VII

Gotta say, SCII Terran sounds pretty baller with live instrumentals, but BW Terran is still better during gameplay.

More stuff on their youtube: http://www.youtube.com/user/BattlecakeBand

Someone told me many of the band members are part of the PhD video game design program, not sure if true or not.