Jonathan, this was actually a TV, though it might have had a radio too.
This is the set I have, well not actually THIS set but one just like it.
I think it's the same innards that should be in that Queen Anne cabinet.
Just for fun I ran that $695.00 price in the picture through the inflation calculator:
What cost $695.00 in 1949 would cost $5333.63 in 2005.
I guess this was a rather nice set in it's day.