Indeed Timecode and NM rarely release CD anymore (although both labels told me that they will release in physical formats in the future).
Here is my list of the best Twilight I bought in CD 2011-2012:
Lost & Found-Decoder
Awesome album by Gerhard. I was expecting a bit more power, but still kicks ass.
Painikiller And Friends
Not Twilight per se, more like hard melodic full on, but it was one of the biggest surprise for me in 2011.
Arecibo Chronicles Vol.1
Possibly the best Twilight compilation of the last two years!
Disco Meat Market
Another very good twilight psy mostly by South African artists.
In Lak Ech
Some nice Twilight tracks in here. Not the best comp, but really nice.
Liquid Legacy
Portuguese style Twilight, but one of the best.
Snuff
Heavy dark Twilight. Some great trakcs here.
Leppy-Rust
Nice melodic Twilight. It's closer to South African style which I like a lot.
Night Terrors
Double cd with many new and old Twilight artists (plus a new track by Twisted System).
Let's hope that Timecode and NM will start to release more stuff and of course more cds!