When I do listen to local radio it is time-shifted: I rip radio shows off the air, encode them to mp3 and listen to them when/where I want to.
What it takes
A tuner of some kind. I am use an ISA-based Radio Reveal 300 card I got off eBay for $10 (including shipping). It picks up a bit of noise; I will eventually replace it with a USB tuner that will be situated farther from the PC.
Tuning software to schedule the recordings. I use the excellent freeware radiator.
A decent mp3 encoder. I use LAME; pre-built binaries are
widely available.
How I do it
radiator dumps the audio to .wav file.
a Win2k Scheduled task runs a few times a day, firing off a .bat file which...
calls LAME to make VBR encodes from the .wav files, then delete the .wavs.
Caveat Radiator
I am currently trying to work around some minor problems.
Adjacent/abutting shows: radiator does not
handle overlapping shows, and the defaults don't help this situation.
Hour-long shows must be taped for 0:59:59; if you do it for 1:00:00 the
adjacent show will not record.
Radiator writes to a tempfile, then copies this
tempfile over to the output file after recording. This means you've
got to allow enough time for the show to terminate, copy the file over,
and start taping the next show. I've started ending shows a bit earlier
(like 10-30 seconds) to allow for this housekeeping and this seems
to work fine. Note that .wav files will be larger than .mp3 files,
so leave longer time for those.