I somewhat agree with your comment that the programming of the stations hasn't changed. Here in San Diego we have a hard rock station that's now owned by Clear Channel (I don't think it was before). Nothing has really changed with them. The stuff they get away with amazes me. They play or say the F word quite a bit, and they're always talking about sex.

However, I do think that the law has ruined the diversity of the radio stations as well as killed the independent radio station. There used to be some great independent stations down here in San Diego. If you wanted to listen to a certain type of music, you even had a choice of stations. But, when they passed that law, all the big groups like Infinity and Clear Channel went and bought up their competitors and put them out of business. They changed their format to something that didn't already exist. So, we now have a station for every genre/demographic. If you're a Gen-X'er/Alternative listener, you listen to 91X. If you want Dance/Top 40, you listen to 93.3. You want Hard Rock, you listen to 105.3. You want Rap, you listen to 90.3. And they're ALL owned by Clear Channel!

What I wouldn't give for a station that actually played more than one genre. Well, I take that back. The one guy that has actually been responsible for the independent stations here in San Diego (before he was bought up by Clear Channel and fired...twice) recently started another "alternative" station. They play quite a diverse selection of music, including things you won't hear on any other station.

Here's their webpage:
http://www.independent.fm/