Last.fm
Last.fm is a free service that tracks your musical taste, finds similar users, and provides musical recommendations and free personalised radio. You get to create tag based radio stations based on your favorite genres or artists. I still recommend Pandora over this service since Pandora did a better job at picking the songs closest to my taste. Give both services a try and let me know what you think.
Democracy Player is a free and open-source (GPL) software that lets you watch Internet TV channels. The software is written in Python and comes with a channel guide. I wasn’t too pleased with the content thats available right now from the channel guide but all this might change soon when the Internet TV phenomenon really takes off.