Early favourites to pick up this year's coveted award are Alt-J, whose cramming of influences - broadly labelled as indie-pop - on their debut album An Awesome Wave has impressed critics across the board, despite under-performing in the charts.
Another act tipped for nomination is Welsh multi-instrumentalist Rod Thomas aka Bright Light Bright Light, who has managed to separate himself from the dance-dominated charts with his own finely crafted synth tracks and electronic ballads on Make Me Believe in Hope.
But who else should, at the very least, be recognised as a contender for the award? Jessie Ware's debut album Devotion was released little over a fortnight ago but is already a contender for album of the year, as is Scottish quartet Django Django's self-titled set of quirky, neo-psychedelia.
Outside the Pitchfork and Guardian favourites bubble, there is also a higher-than-you'd-expect amount of chart-friendly pop acts deserving of the award this year.
Emeli Sandé's Our Version of Events has spawned a number of chart hits and recently became the highest-selling album of 2012 so far, but it easily holds its own as a collection of beautifully-crafted, self-penned ballads.
Meanwhile, Lianne La Havas not only wowed the public with her pitch-perfect live performances but went on to deliver a strong and eclectic debut with Is Your Love Big Enough?, while BBC Sound of 2012 winner Michael Kiwanuka's collection of vintage gospel-soul Home Again remains stunning seven months after its release.
We'd even go as far as to say Labrinth - who produced and co-wrote his entire debut album Electronic Earth - is a shining example of brilliant modern pop that deserves to be recognised, much like Coldplay's global-reaching opus Mylo Xyloto.
When the nominations for the Mercury Prize 2012 are announced this Wednesday (September 12), one thing is certain; another round of heated debate about today's music industry is imminent.
Who do you think should be nominated for a Mercury Prize this year? Leave your comments in the box below: