Ok, deadwing knows knows his shiz. Props and respect.
I think MBV's loveless is the classic "shoegaze" sound, walls of sound, distorted/fuzzed out chords bleeding into each other, noise that's piercing yet beautiful at the same time, yada yada yada. But that's just me.
Kasi like any other musical genre, mahirap i-label ang isang banda/grupo/tao sa isang tunog lang, laging may elements of this, elements of that, etc. Labeling is bull anyway, but we still like doing it.
Also, as deadwing pointed out, marami naring bands na heavily influenced by at nag incorporate ng shoegaze with other styles; jesu, explosions in the sky, m83, and autolux to name a few. Some people call them nu-gaze, which is very apt I think. Locally, medyo wala pa kong narinig, subukan kong pakinggan yung mga nabanggit, although may mga narinig na kong dreampop at dancey/post-rockish local outfits.