Internet radio is almost unlistenable with good phones, but throw some Amperiors on and it sounds pretty darn good. When I stream internet radio through my Auralic Vega, things also sound pretty bad, but when I send the stuff to my Audyssey South of Market Sound Dock, they sound really good.
It seems like the better the new music, the lower the streamed bitrate. I really enjoy KEXP and Sirius.
I'd love to hear all this stuff at a higher resolution but it doesn't seem to exist.