Got to know about this new music site called Slacker.com, that allows you to create and customize your own radio stations. You can create a station by choosing your favorite artists or by selecting one of the existing stations based on genre.
Slacker Personal Radio allows you to log in from any PC or Mac to hear personalized stations play CD quality music. Playback is through web player, jukebox software and portable devices
The site also allows you to view album cover art, band profiles, reviews and artist photos. You can even share your stations with friends.
FYI, Slacker is completely free.
NOTE: Unfortunately, Slacker is currently only available in the United States. However, the site mentions that it will soon extend licenses to other parts of the world.
Thanks for the info Anders.