Saul Stokes - Villa Galaxia
Highly regarded in this forum, and for good reason. This album represents next steps for ambient/electronic music, while somehow paying homage to 70s-era electronic music as well. To say it sounds happy is going too far, but it has a positive vibe. If you don't already have this album, you need it!
Lemongrass - Ambient Land EP
Very good, non-boring drone-y 5-song EP. The fact that this album is an EP shows Lemongrass' restraint; I'm certain he could have stretched it out to a full-length album, but he didn't, and that demonstrates the tastefulness that you'll feel/hear throughout this EP.
Loscil - Strathcona Variations EP
Loscil can do no wrong as far as I'm concerned. This 3-song EP is nearly 20 minutes long, but every time I finish it I think "Is it over already?" Again, restraint in regard to duration as well as arrangement makes for great ambient listening, and this EP doesn't disappoint.
R. Carlos Nakai - Canyon Trilogy
Meditative, beautiful, echo-y flute. It took me some time to get over my embarrassment for liking this - I heard it in too many 'nature' stores to take it seriously - but I'm ready to admit now that this album has become a desert island selection for me. If you're scoffing now, reconsider the album - you might like it.
Forrest Fang - Phantoms
Just got this one, and I'm listening to it now for the first time. This album is also highly recommended in this forum, and I'm enjoying it so far. Great ambient, interesting instrumentation. I think I'll be spending a lot of time with this one.