A couple of comments related to earlier messages.
1. For BYU Radio and some of the other LDS themed webcasters and iPhones, you might want to check out FStream and CastCatcher at the Apple app store. One is free, the other is two dollars. They allow you to input the stream URL and bitrate and you are set.
2. I found that the stream is .wma, that came from viewing the page at radiotime.com for Mormon Channel. Clicking the listen now link there brings up another window which shows the flash player. However, watch what it does immediately when the box opens on your browser as that is how I discovered this.
Turns out 64kbps WMA is as good as 128kbps mp3 files are for audio quality. I've also heard that 64kbps for anything is the optimal streaming rate for mobile phones anyway given current speed rates on most 3G networks. Once everyone goes to 4G, then higher rates will be more possible and prevalent but it may be a while before 4G (Wimax, etc.) catches on and is fully deployed.