Nexus Radio is a free social networking service that allows members to listen to music, and create unique personal profiles in order to communicate with other Nexus Radio
members. Nexus radio is an All in One Audio Player that can play your audio files, tune in to hundreds of internet radios, create playlists, record internet radios and much more. You can take it as a WinAmp alternative. It has nice Visualizer, Plugins, Filters, Profile support, social networking where you can communicate with others and much more…
Well, recording internet radio station is quite controversial as it violates copyright laws. So, be careful while doing so. Record only those radio streams that are legal to download 
Whatever it is, NexusRadio does its jobs pretty amazingly and a worth audio manager for you to try.
Official Screenshots
Playlists
Visualizers
Audio Trimmer ( Editor)
Audio Effects and Equalizers
Thank you for sharing this tip, is Nexus radio like a toolbar type deal. I guess I should look. I run a radio station and we are given ways to share with users, toolbars, community, shoutcast and other networks. There is alot of choice and whats good is you can be picky.