"International Velvet" by Catatonia is, IMHO, as close to perfection as modern production gets. Then there's the Nick Drake stuff produced by Joe Boyd. And Geddy Lee's last solo LP is awesomely produced - it's my reference for mixing my band's forthhcoming (and ongoing) LP. And, of course, as mentioned earlier "The Great Destroyer" by Low - I think Dave Fridmann from Mercury Rev did that one. Sublime.