A few years back my stock cd player died and my wife bought me a $175ish Kenwood HU/CD player. The radio reception is only decent (when compared to my wife's 05 4Runner with stock radio) - is is possible to improve the reception?

 

Only two ways that I know of. Better antenna and/or a signal amplifier.

 

check the ground wire on the headunit. if its as old as you say it is, the ground may have come loose and might be causing it...