It's not true XXX, national rock is extremely popular.
I dislike most of the mainstream national rock that's popular at the present. But I'm really into the indie rock argentinian scene and like bands such as Victoria Mil (see Next Wave section), Los Alamos and Fantasmagoria. There's also a great band called Pez that could be consider the argentinian Mars Volta (but they are even better than Mars Volta). I go to a lot of gigs of the indie scene... I mean U2 doesn't come every month to Argentina.
As for the 80s and New Wave, we had our share of great bands... some of them were popular and some weren't: Soda Stereo (I highly recommend them), Virus, Los 7 delfines, Fricción, Don Cornelio y la Zona (uber cult rock band... most people here don't know them), Los Abuelos De La Nada and Sumo.
Also great music in the 70s such as Seru Giran, Pescado Rabioso and Vox Dei (they are like the argentinian Led Zeppelin).
http://sicksadworldwelivein.blogspot.com
