Ultimate Band was initially announced as being the peripheral-free answer to Rock Band and Guitar Hero, but now that rumored versions for the Xbox 360 and PS3 have been announced, word is that there will also be a version with instruments that will retail for $170.
Drag yourself past the break to see the list known artists and songs.
Note that none of these artists may actually be present in the game, since the songs in the trailer are actually covers.
Tracks included in the above trailer
"Fell in Love with a Girl" -- The White Stripes
"My Generation" -- The Who
"Our Time Now" -- The Plain White T's
Other confirmed tracks
"Whip it" -- Devo
"Steady as She Goes" -- The Raconteurs
Other rumored artists, all of whom make more sense than the above
Bowling for Soup