I'm going off of 2011 US (i.e., NY/LA) commercial releases.
There are many of films I stiiiiiill haven't seen - either well-received films from directors I like or love (such as Go Go Tales, Meek's Cutoff, Mysteries of Lisbon, We Need to Talk About Kevin, and House of Pleasures) or simply really critically acclaimed things I just haven't gotten around to yet (such as Take Shelter, Midnight in Paris, Attack the Block, A Separation, and Margaret). But I've seen enough to make a list of ten solid films, plus a few honorable mentions.
In descending order (individual ranking is not super-important here) ...
- The Tree of Life (Terrence Malick) - total masterpiece.
- Film Socialisme (Jean-Luc Godard) - ditto.
- Certified Copy (Abbas Kiarostami)
- Le Quattro Volte (Michelangelo Antonioni)
- Road to Nowhere (Monte Hellman)
- Melancholia (Lars Von Trier) - I don't typically like LVT anymore but was surprised at how rich & even moving this was.
- Myth of the American Sleepover (David Robert Mitchell) - I prefer this sweet, shaggy pastiche to JJ Abrams' Super 8, which is impressive in how it realizes early '80s Spielbergiana, and features good child performances, but doesn't have much going for it aside from those things.
- The Arbor (Clio Barnard)
- The Princess of Montpensier (Bertrand Tavernier)
- Mission: Impossible - Ghost Protocol (Brad Bird) - the M:I series is somewhat unprecedented in that you've had four different directors putting their own "stamp" on the franchise, largely linked in tone & approach only by Tom Cruise and a certain strain of nostalgia for the original & its premises .. and each M:I installment has been, at least, interesting. This one counts as one of the best action movies of recent years ... a really exhilirating work, shallow, but the director knows how to tug at heartstrings appropriately too and I think this helps undergird the whole process.
I also really liked 13 Assassins (Miike), A Dangerous Method (Cronenberg), the truly wonderful pulpy horror movie Insidious (Wan), and to a lesser extent, Fast Five.
There is a thin, porous line between certain movies I liked or admired but didn't love (such as Sleeping Beauty, Drive, or Girl with the Dragon Tattoo) and a few of the other movies I'd start to put in the "overrated" category, starting with Of Gods and Men, which I wanted to like but didn't - its form & politics simply strike me as safe though I wouldn't call it a bad film. Sort of liked Bridesmaids on a comedic level but think it largely fell short as the sort of "great" comedy some felt it was. Hugo underwhelmed; The Descendants was better than I expected but I went in with very low expectations. There were a number of bad movies but I think Thor left the worst taste in my mouth for its predictability, and for the awful way (common in movies of its kind) where teenagey "ironic" slang gets juxtaposed clumsily with high-falutin' quasi-Queen's English speech patterns. Ugh. The movie was awful - with the sole exception of the scene where Thor slammed his coffee cup onto the ground and bellowed for more. That was funny.
... Worth mentioning: Ken Jeong's hilarious performance in Hangover 2, Anna Faris (great as always) in What's Your Number?, and the opening sequence of Tarsem Singh's idiotic Immortals.