I think some of the best of this generation is Azealia Banks, J. Cole, Drake, Wale, Kanye West, Lola Monroe... and the worst lord it's so many.. Kreayshawn, 2 Chainz, Big Sean, Future, Guuci Mane, Wacka Flocka I can go on for days.
I think good lyricism is when you actually tell a story in your song. Most rappers don't do that anymore though.
You need clever metaphors, a lot of wit, and funny punch lines to be a good lyricist.
Obviously the usual suspects are the best. I'm not even gonna list them we know who they are.
Of the rappers that had a debut album out in the last 5 years. I'll say J Cole, Asher Roth, and Nicki.
I'm not a Nicki fan, but she's very good when she wants to be. She bodied Jay and Kanye on Monster. And that "This stone is flawless, F1. I keep shooters up top in the F1. A lot bad bitches, begging me to F1" line me say whoa out loud.
Good: Kendrick Lamar, Schoolboy Q, Killer Mike, Lupe Fiasco
Bad: Mac Miller, Pitbull, Waka Flocka Flame
ANTICIPATED UPCOMING RELEASES | ok west
Vampire Weekend, Modern Vampires of the City (14/5/2013)
Daft Punk, Random Access Memories (21/5/2013)
The National, Trouble Will Find Me (21/5/2013)
J. Cole, Born Sinner (25/6/2013)
AlunaGeorge, Body Music (1/7/2013)