After another nigth of trying, I have finally found a way to listen the mms:// stream radio on my HTC Driod Eris phone.
It is not a straight shot but it works. Go to
www.orb.com and download the Orb application into your PC, follow the intruction and add your custom radio stations' url. It takes a while but I was smiling when the voice of my familiar radio talk show coming out of my cell.
Like I said, it is not a straight shot. You may also have problems finding your station's stream url from the website. For this, you can use
URL Snooper to find the URL. This is another multiple steps process.
The downside of Orb is that you need to keep your PC on while streaming the radio to your android phone.