My favorite radio stations growing up were Live 105 (105.3 in the Bay Area) and KWOD 106.5 in Sacramento. KWOD was always the superior radio station in that they would play not only great alternative music, but would also go deeper into album catalogs to play music that no other radio station had the guts to play.
A couple years ago I was mortified to find KWOD 106.5 had become "KWOD 2.0" where they played a bunch of Adult Contemporary Pop/Rock. Not that some of their selections were all that horrible, but because it became a watered-down radio station, I was disgusted and boycotted ever turning the dial to 106.5.
They eventually apologized and returned to a similar format as they originally built their following on- Alternative Rock. This lasted for awhile- at least until recently when 106.5 became "The Buzz." Ugh. It's all 90s, all the time. Again, the station itself is not that bad, but because it took away my number 1 preset and made it far worse than it was before, I had to boycott this station as well.
I recently discovered that the DJs from the original KWOD 106.5 started a website at http://x1065.com that plays all the Alternative Rock that you would need and more. I listened to the station during my drive to Walnut Creek on Monday, and it was awesome. I felt like I was back in high school (which was appropriate considering the event I was going to.)
They played Radiohead, Silver Sun Pickups, some new songs I'd never heard before and even a Jay-Z/Radiohead mash-up. One suggestion that I would make to the station managers is that every time they think about playing Linkin Park, they should play God Lives Underwater to replace every other Linkin Park song (one LP song for you, one GLU song for me.)
The best part about x1065.com is that anyone can listen to it anywhere in the country because it's a web radio. Also, you can listen to it on your iPhone or Blackberry (I would guess it works on the Droid as well.)
I highly recommend checking out this station if you're into Alternative Rock- you won't regret it. Thank goodness I don't have to deal with "The Buzz" anymore.