If you like Pandora but rather flash and visual ads that go along with it, all you need is pianobar which you can install in one line. Just open terminal and type:

brew install pianobar

Now you can run your flash-free Pandora player in your terminal.

➜  ~  pianobar
Welcome to pianobar (2012.09.07)! Press ? for a list of commands.
[?] Email: [email protected]
[?] Password: 
(i) Login... Ok.
(i) Get stations... Ok.
0)     Boston Radio
1)     Guns N' Roses Radio
2)     Kishore Kumar, Mohd. Rafi, Mukesh & Lata Mangeshkar Radio
3)     Lata Mangeshkar Radio
4)     Led Zeppelin Radio
5) q   Michael Jackson Radio
6)  Q  QuickMix
7)     Super Freak Radio
[?] Select station: 5
|>  Station "Michael Jackson Radio" (116177894800507788)
(i) Receiving new playlist... Ok.
|>  "Wanna Be Startin' Somethin'" by "Michael Jackson" on "Thriller"
|>  "Signed, Sealed, Delivered I'm Yours [Alternate Mix]" by "Stevie Wonder" on "The Complete Motown Singles: Volume 10: 1970"
|>  "Freak" by "Chic" on "The Definitive Groove Collection: Chic"
|>  "Brick House" by "The Commodores" on "Colour Collection"
|>  "Thriller" by "Michael Jackson" on "Thriller"
#   -05:34/05:59

Updated with bonus:

Also run last.fm via terminal. Open terminal and type:

brew install shell-fm

and create the file ~/.shell-fm/shell-fm.rc containing this.

username = your-username
password = your-password
default-radio = lastfm://user/your-username/your-station-name

#  for example: lastfm://user/lvnilesh/personal

and run

➜  ~  shell-fm                
Shell.FM v0.8, (C) 2006-2010 by Jonas Kramer
Published under the terms of the GNU General Public License (GPL).

Press ? for help.

Receiving lvnilesh’s Library Radio.
Now playing "Call Me Maybe" by Carly Rae Jepsen.
-00:01

Enjoy!