Sometimes the simple things can be modified and controlled with an Arduino to enhance their use or operation. One example of this is by the "coolarduino" people who have hacked an inexpensive FM radio onto a protoshield and controlled the tuning function. The radio is based around the older Philips/NXP TDA7088 which seems to have been cloned and used in various cheap receivers. The hardware modification is quite simple and could be the base for a digital-preset FM radio control on a tight budget.
When recreating a project such as the radio shield above, consider building the external circuits on a ProtoShield - it makes your project all the more professional, and easier to enclose. We have a range of shieldsincluding basic PCBs, short versions and our ProtoShield Pro with SMD LEDs: