I recently discovered free internet radio on AOL.com. I've been listening to the "Bop" jazz channel that features the likes of Bird, Bud, Miles and Monk. It's awesome chill music, just great. Every 40 minutes or so there are 2 minutes of ads which, although annoying, are tolerable. I don't know what the bit rate is, but it sounds fantastic.
Check it out here and click on "Bop." Then pour yourself a nice glass of scotch and enjoy.