I'm a somafm.com fan, more for the unique music selection than anything else. The quality is 128k mp3 which seems to be what the vast majority of internet radio is using.
Obviously 128 mp3 leaves something to be desired on our hi-fi equipment, but I can see how it works fine for the vast majority of casual consumers out there listening on lo-fi Big Box Store stereos.
I wonder when we'll start seeing hi-fi targeted internet radio, streaming at 256k+ or even FLAC? I'd gladly pay a monthly subscription fee to access such a service.