Having lived in LA for a couple years during my youth I encountered KCRW, a public (non-commercial) radio station based out of Santa Monica College that happens to have a consistently excellent music show, Morning Becomes Eclectic with host Nic Harcourt. The show always involves the band coming in the studio for a live 40 minute session.

Well, they've always had Real Audio streams (which have had sub-par quality over the years) but they've recently made the show available as a Podcast (Link requires iTunes).

Recent bands include Clap Your Hands and Say Yeah and a gem out of Tijuana, called Nortec Collective. Yum.