iTunes wants to be your be-all, end-all media player, handling videos, podcasts, music, and even Internet radio. But it's overkill—using iTunes to play an Internet radio stream is like using a bazooka to kill a mosquito, and it's of almost no help in searching for new streams, either. Radium 3 is a cool music utility that lives in your menu bar and offers quick access to thousands of streaming radio stations and services.
Radium isn't an “app” in the usual sense. Instead it inhabits your menu bar for quick access to your favorite streaming radio stations. Just do a search and blammo, your favorite station is playing. The app features an equalizer that helps deal with the quality of internet streams, and the History feature has iTunes Store links to the songs you listened to.