Very cool indeed, is what I think of Amir Markish’s Radio Hungary ($1.99) which has a very user friendly interface allowing you to search Hungarian Radio stations being broadcast online. Save your favorites and play. I just doesn’t get easier. Buffering is surprisingly fast and most stations stream reliably over wifi – though I am bummed that for some reason Bartok (a station I like to listen to when in Budapest) isn’t streaming with a codec this app plays – this is not limited to this app, I have a hard time getting a good feed from them on my Mac, but minden jó lesz I’ve got Juventus and about 70 other stations!
I think for Hungarian ex-pats, Hungarians visiting the US or people studying Magyarul or wanting their kids to learn Hungarian this is a solid investment since you're hearing everything. So you get an idea of how I listen, I have my iPhone set on an iHome charger/speaker and I can pretty much get that sense that I'm back in Hungary, sipping Preszo and maybe eating an excellent slice of Beigli at the New York Cafe in Budapest.