Supergroup of the moment is Them Crooked Vultures featurding Dave Grohl back behind the drums where he belongs, John Paul Jones back behind the bass where he belongs and lead singer Josh Homme leading the band just like in the (queens of) Stone Age.
They sound nearly exactlly the way you thought they did: a hard rock edging towards heavy metal with a truly awesome anchor in the former Zep bassist. The big song “Elephant” is gynormous and if it was an instrumental would sound like Led Zep: that sorta bigness. Hommes is a gruff tenor when you’re hungering for a soprano (where are the high notes, son?) but the song has the crush of real metal and sounds, well, after death metal and metal metal and goth metal, pretty fucking fresh. Here is the url: http://www.youtube.com/watch?v=x1ISnz7LQDk