Y'know, I hear this all the time and factually it's just not true. I don't deny that, with the proper hardware and maintenance, vinyl does sound noticeably better than CD's usually do. But even discounting for the fact that the physical quality of the vinyl in most college radio libraries is sub-par, as are the needles and cartridges on the turntables...the sad fact is that FM radio, at its best, will only pass bandwidth up to 12kHz or so. That's too low for anyone to actually hear the improvement that vinyl can have over CD's. Maybe with HD Radio you could hear it, since it actually passes 20-20,000 Hz, but the lossy algorithm (AAC, ehem, I mean HDC :
) probably ruins the subtle improvement that vinyl has over CD.
Now, vinyl certainly can - and often does - sound DIFFERENT than a CD will on the radio. Usually there's more low-end "warmth" and that's more pleasing to the ear. Also if you're talking vinyl you're often (but not always, of course) talking about older recordings that were made before record houses started compressing the snot out of any audio burned to CD. In other words, it's often more a question of source material than the medium its on.
And I certainly give a lot of credit to college radio for playing vinyl because it often reflects a philosophy of music diversity, whereas playing music off CD or computer often reflects the opposite philosophy...although with today's college kids that inverse relationship doesn't really apply anymore. Some kids have incredibly diverse musical tastes, others have no taste at all, but damned if they're not ALL playing MP3's. I think it's less about whether or not they play MP3's and more about how attentive they are to the quality/bitrate of the MP3's.