Actually, stereo separation is NOT always the same. There are several different methods for encoding stereo signals in just MP3 files alone. The possibilities are myriad.
However, as TheBigA states, there are many other factors to consider. It's practically impossible to tell what file format is being used by the time it hits the airwaves. And, I can tell you from experience that not all stations encode their audio files in the same format across the board, so you can be hearing multiple file formats on the same station.
As for what those formats may be, many stations still use MP2 (the precursor to MP3) with a .wav extension, as that was the industry standard for quite some time. In fact, using uncompressed WAV files (which are NOT compressed in MP2 format) has only become more common relatively recently as hard drive space has become less expensive. You'll almost NEVER find WMA files on a station's server, simply because the format is proprietary, hardly anyone uses it for anything, and licensing it just doesn't pay off for most software and hardware companies. MP3's are much more common because of how ubiquitous they are at the consumer level, which has helped stations keep costs down through using consumer-grade software and hardware, and the difference in audio quality between a full-quality, 320kbps constant-bitrate MP3 and an uncompressed WAV file is realistically unnoticeable.
So while you most likely can't tell the difference just by listening, chances are that, in order from most to least likely, you're hearing 1: MP2, 2: Uncompressed WAV, 3: MP3, or 4: anything else.