Yes and no.  Depends which Roku device you're talking about.  

The Roku Radio is as described -- it does have an AM/FM radio in
addition to wireless internet radio, which has 18 presets that can be
programmed.  The radio does not play other sources aside from internet
radio, which is fine with me but may be a drawback for other users. 
Internet radio is all I want for my clock radio; they can keep the AM/FM
as far as I am concerned as well, since we live in an area with zero
reception. It can be controlled totally from my computer, if desired,
but computer is not necessary. 

The Roku Soundbridge devices, which have no speakers, send music from
other sources through your stereo as well as internet radio.  WMA, MP3,
AAC, AIFF, ALAC, and WAV music formats are supported.  Also can be
controlled from same interface on computer, but not necessary unless you
are playing a source that is stored there. 

I don't use any of these services, but they claim to support the
following:  Rhapsody, Napster, Walmart.com, MusicMatch, MusicNow, and a
number of others.  Didn't see LastFM listed, but didn't look real hard.
         

Susan


-- 
CECat
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