No chance of a Radio, Apple don't ever add aged technology... It's a bit annoying at first, but you get used to it. But iOS5 does give you a healthy speed up 
Additionally, I can tell you from the perspective of a radio / rf theory guy...that you simply need a decent sized anteanna to listen to FM radio well. And it's all line-of-sight, so a tiny little antennae hidden inside a cell phone and you're inside a building, it just won't work well. Most of the cell phones that have been reviewed that include FM receivers can contest to that.
Also, we may be running out of room to place antennae components
