I haven't used the MC "Web Media" functions much in a long time -- but I think I'd definitely use a new, improved MC Web Media quite a bit.
Personally, I'd love to see, in addition to Shoutcast and other "recommended" sites:
-> The ability for users to *easily* add new stations/sites/streams, and have the choices saved to the database/library in some way instead of as a cookie/etc., so that the added stations can be saved/transferred/remembered along with the rest of the user's library.
-> The ability to use MC to search for radio stations is cool, so I'd be all for keeping this functionality so long as there was a way for the Web Media database to stay more up-to-date -- but the main issue, for me, is the ability to intuitively store, search, organize, and play user-chosen favorite stations, even if those stations where discovered via a non-MC source.
-> Any integration with Pandora would be superb. I'm addicted to the free version of Pandora, and I'm even kinda considering the paid version. Either way, Pandora-radio integration with MC would be awesome, even if it meant having to look at the Pandora ads. (Totally off-topic: eMusic integration would also be cool.)
-> An overall more tightly integrated Web Media ("look and feel," Theatre View, etc.) -- something closer, perhaps, to how MC currently handles podcasts.
-> While far from perfect, and no match for MC in most respects (although it's getting cooler with each build), Songbird has been adding some very nice features in terms of searching for, playing, saving, and deleting online media and radio streams . . . Since they appear to be <cough> borrowing ideas from MC, it'd only be fair for MC to borrow some of their better ideas right back.... Or consider, and let me apologize before saying this, as I realize they may be seen as a competitor of sorts, but, hmmm, some sort of future Songbird/MC integration? The combined power of the two could = the ultimate media interface of the future...