One thing I miss in the MP3-era is the old practice of discovering new music by listening to the radio. Even if you still listen to FM on a regular basis, it's rare you'll hear them play much that's not already on the top-40, given their emphasis on widely-palatable, predictable playlists (low-power college stations are an exception to this rule, but hard to tune into and often erratic in quality.)
Today, I've been trying out Streamer, a new (and I mean alpha, watch-your-fingers new) peer-to-peer Internet radio system. It allows users, even those with very limited bandwidth available, to create largely anonymous online radio stations that can broadcast to a theoretically unlimited number of end users, by having the other listeners also act like "repeaters" -- to borrow some VHF/UHF parlance.
Aside from a tiny (~100K) download, the system mostly uses the MP3 player you already have, probably WinAmp, and builds on existing standards for Internet broadcasting, primarily the free Shoutcast server from Nullsoft and/or the freely-available, open-source IceCast server.
Give it a try, and be patient - getting a connection to a new station can take a minute or two, and at first I didn't even get a listing of available stations. It's a nifty system, especially if you're a music junky and would like to consider re-transmitting your music tastes to the world.