You set up shoutcast on your own server, so if it goes offline, it's yours (not yours per-say, but your servers) fault. . Shoutcast also can be used in nearly any flash interface. You can also open it in iTunes, Winamp, Windows Media Player, etc, at any time.
Just an idea. Obviously LPL may do what they want, but I just thought I'd throw this suggestion in as I am familiar with it all. .
Edit: There are also some badass code snippets for shoutcast that allow you to see how many listeners are tuned in, what's currently playing, etc, even BEFORE they tune in. Don't like the song? Don't need to tune in. .
I would also go against anything flash related. Keep it simple with the media players.