Radium offers a slick, lightweight Internet radio experience for your Mac
Radium is a menubar app with plenty of global keyboard shortcuts, so you can keep it running in the background and listen to your favorite stations with no desktop footprint. The preloaded selection of stations is awesome -- I'm cool as long as a radio app has my favorite indie station, Seattle's KEXP -- and you can add additional streams by URL. Because the selection of stations is extensive, Radium's "favorite" feature is essential. Favorite stations are always visible in the Radium menu, so you don't even have to use Radium's handy search field to get to them quickly.
Another nice Radium feature is Growl support. Because Radium isn't a window-based app, it uses Growl support as a way to show you what what you're listening to. Growl alerts will pop up the song title and artist if a station has tagged them. Of course, if you're not really a Growl person, you can just turn them off. All in all, I can't say Radium is better or worse than Snowtape. If you need bells and whistles (and the record feature), get Snowtape. If you just want to hear some music with a minimum of fuss, get Radium.