I'm sorry, but tests have shown significant (more than a few db) s/n degradation on only a couple of the cheapest of radios (next you're going to ask where I read it, and I'll be damned if I remember. I think it was research done by NPR). I have MANY fm radios, expensive and in(expensive), and can't hear any degradation on any of them, including my 25 dollar Sony SRF-42 (GREAT AM/FM Walkman!)
Want to argue about AM, you have a point. Arguing about degradation of FM, and you're just being silly. Know how I know it's not an issue? Not a single engineer I've talked to has received a single complaint from a listener! 'Nuff said!