"The radio feature will eventually be available. However, I can't say exactly when that will be. Be reminded, that Spotify is not chiefly a radio service. The lack of a radio feature for the time being is a factor of licensing agreements with the rights holders but it will eventually be available.
So the lack of a radio feature in no way limits your ability to search for and play the song of your choice. Just to be clear, when the time comes, the absence of a radio feature will be available for free as well as Premium users, as it is not typically one of the main benefits of a Premium subscription. "
http://getsatisfaction.com/spotify/topics/radio_mode_missing...
On the Mac app, the 2nd item is "Play Queue". "What's new" is first and "Inbox" is third.
http://www.spotify.com/us/get-spotify/free/
This table shows that it's only available for paid accounts.