The iPod Touch is what I use and I like it a lot. I download a lot of podcasts though.
I also like that I can get lyrics at the same time. And it can act as a small wifi-enabled internet browser if I am on my bike away from home.
If you wanted radio, I think this might work.
Griffin Tech. 9125-IFM30 Griffin iFM - IPod FM radio / remote control - black