How wrong are you about Americans doing it better and Armored Saint is not Power Metal, it's Traditional/Heavy Metal.

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Actually, I think the best Power Metal is in Europe [british and german bands started and defined this whole genre]. Sure, the US has some great bands too, but still not as many and diverse - all in all, it's matter of taste, since everybody prefers different bands .

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When in Danger or in doubt,
Run in circles, Scream and shout.

I vastly prefer the USPM scene to the European one. I mean it's not even close.
 
A few of my favourite heavy/power bands regardless...
 
-Fates Warning (The Spectre Within and Awaken The Guardian is a duology of perfection that no other band has ever matched in traditional metal. Okay, maybe Master of Reality and Don't Break The Oath are about as good...)
 
-Warlord (Deliver Us is a badly underrated slab of USPM. I'm willing to bet a lot of Europower bands got Ideas from the keyboards on here... the difference is that Warlord had awesome riffs as well. "Deliver Us From Evil" and "Black Mass" are classic tunes)
 
-Helstar (Remnants of War and Nosferatu are damn near among the top of the USPM heap, with the exceptional riffwork and the brilliant [neoclassical??] lead guitar work.)
 
plus a few others i'll get to later!

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I haven't come across many Power Metal Bands in my ventures but I like 3 Inches Of Blood.

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I remember having fun once, it was terrible...

Mercenary
Manticora
Versailles
Machinae Supremacy
Auvernia
Iced Earth

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Last.fm: Mercenarion

ahhh,yes... I Forgot Mercenary

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I remember having fun once, it was terrible...

Yay! Another Mercenary fan!

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Last.fm: Mercenarion

Both bands are okay, but...power metal?

Also, I'm seeing a lot of terrible third-rate cow dung like HammerFall and Iced Earth and not enough Blind Fucking Guardian.

this disgusts me.

Y'all better listen to Somewhere Far Beyond bout 100 times, front to back, and then we'll talk.

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If you are a false, don't entry, or you'll be burned and died!

 
You have to be kidding! HammerFall is an awesome band, they are very melodic, catchy in a good way and the music is really good for lifting your spirits (you know, Heavy Metal is sometimes about 'fun', 'warriors' and 'feeling mighty'   - see other gay brotherhood bands like Manowar, Rhapsody) 
 
Sure, I agree Blind Guardian are great, they're one of my favorites as well, but just because HammerFall don't use the complex choruses and the bit more 'loaded' wall of sound, but go for a simple chorus and a cleaner, more melodic sound doesn't make them a band that lacks value. They also have a really good athmosphere live, I think they had the best show at Metalfest this year.
 
Ok, I'm done putting my 2 Cents in.  ^^
Say another bad thing about HammerFall and I'll get all defensive and cry!

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When in Danger or in doubt,
Run in circles, Scream and shout.

I'll admit Legacy of Kings was okay, but that's the only praise i'll give to those hacks. They're just so...soft. They have no real bite or Power to their music. They're very flowery, and not in a good way like this:
http://www.youtube.com/watch?v=lF5x2XzLSzk&feature=related

That, and they bring Nothing new to the table. Now, I'm not saying you have to reinvent the wheel to be considered good, but they could at least do more than water Down 80's Power Metal bands.

One good thing about them though- I'd imagine they'd be kickass to see live. They seem like a band that would be a lot more fiery and entertaining in a live setting.

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If you are a false, don't entry, or you'll be burned and died!