I'm loving this discussion as well. My basic thinking is that the larger the market, the higher the investment to enter and the fewer gambles will be made with that investment. Nashville seems to have plenty of, for lack of a better term, small market stations, that have much less at stake, so more chances can be taken. Hippy Radio is what I would call taking a chance and best of all, it works for them. This seems especially true on Nashville's AM dial although there's some FMs as well.
It might be that there is simply a different culture in Nashville for music. Having been born in Nashville, my mom used to always say she felt country music was more popular outside Nashville than in Nashville itself. She contended Nashville was simply a music hub and country was just a part of it.
I must agree that it seems some 'big boys' seem to lack depth in their format execution in some formats. I have to wonder if this has more to do with initial investment and consensus. I have seen that in stations here. By depth, I mean more of an emotional bonding of the listener outside the station's music format. Being in Texas I can merely compare it to stations from this region, such as how KVIL in Dallas/Ft. Worth under Ron Chapman. I considered KVIL's appeal beyond the music. I'm not talking the on air talent but the 'feel' the station had that attracted people who felt the music more out of line with their tastes but gave them a feeling of belonging. Chapman looked at the listener as part of a big exclusive club and the station had a feel at one point of allowing you to feel you were living beyond your present financial means (ie: more of what you aspire to).
Cox intrigues me. In Houston they ran an '80s format with seemingly no evolution musically or otherwise over it's entire history. It worked. Their country "93Q" has been "The New 93Q" since it's inception, I think, in 1992. Who can argue with their success? It works.
I have always felt a format of seemingly less depth or seemingly poorly executed meant the thinking of the ownership was a short term life for the format or using the frequency as a strategy to better their group for advertising revenue while lessening the strengths of the other players in the market.
It seems in radio we are always serving two masters: the community and the investors. We cannot loosen our grip on either since both are essential. It is how we make what appears to be two opposites mesh that is the key.