Vocalist Emily Burns and lead guitarist-keyboardist Max Gunn impressed with their versions of Valerie, made famous by Amy Winehouse, and the classic ballad Over the Rainbow.
The Fletcherz, vocalist and bass player Sam Maxwell (15), guitarists George Hartshorn (14) and Jacob Sheehy (15), and drummer Damon Spijkerbosch (14), dazzled with their original song Now or Never and their rendition of Barely Legal, by the Strokes.
Vocalist-keyboardist Hertzog Burger (17) played his own composition Don't Forget to Breathe and Never Say Never, by the Fray.
Distorted Gypsy, featuring vocalist-guitarist Bruno Shirley (18), guitarist Michael Eden (16) and drummer Simon Petre (15), opened the showcase by performing Steady, As She Goes, by the Raconteurs, and Cheap Sunglasses, by ZZ Top.
More than 60 musicians and supporters packed X-it Youth Centre, on Stanley St, for the first round.
Ned Webster and band entertained while the judges deliberated.
Entertainer Margaret O'Hanlan said, on behalf of accompanying Ultimate Muso judges, events manager Simon Green, Revolver co-director John Stapleton and guest judge for the night Nick Farrer, previously of the Cartel, the "calibre of talent and performance was exceptional".
The Ultimate Muso prize is the chance to play a warm-up set for an established band at Revolver, as well as performing at an X-it fundraising dinner where the winners will join music industry veteran Mike Chunn at his table.
Singer-songwriter, producer and recording artist Andrea Cruickshank-Pearson and Studio 183 owner Dave Allison judge the Best Original Song category.
The winners will have an opportunity to professionally record their song at Studio 183, in Frankton.
Sarah Foley, Red House, Why We Need Darkness, Belinda Sue, Water to Wine and the Artful Hustlers are anticipated to play in the second heat, at X-it, on Friday.
The grand final will feature Chunn as special guest judge, on September 24.