Priority mail can take a week or more, and you shouldn't get worked up until it's been at least a week. I've seen packages delivered to the wrong address, held up at the PO, and stolen out of the mailbox (or off the porch.)
The only way you should EVER ship an item worth more than the cost of shipping it is by UPS or FedEx, and you should always get insurance.
But never mind that... pinhead, it may be that FW indeed did exactly what he said and that something else happened along the way: the radio could have been sidetracked or stolen from your front porch (as you're apparently afraid of.)
I would suggest taking it easy and waiting until Monday before getting worried. In the meantime, have foxtrotwiskey send you a copy of all the information he does have, and see if you can get to the bottom of what happened. Everyone deserves the benefit of the doubt, and if the scanner shows up tommorrow, you'll feel pretty stupid.
Also, posting names and addresses is not cool; even if you're mad at the guy, that's no reason to start posting his personal information on the web.