Dear Prawl
NFM stands for Narrow Frequency Modulation. This is the FM modulation used in most types of Communication radio like PMR (Private Mobile Radio), walkie talkies etc. I think NFM is usually 12.5 KHz wide or narrower.
The other type of FM you may come across is WFM or Wide Frequency Modulation. WFM is used for the FM broadcast band and TV audio. WFM is usually 50 KHz wide or wider
I am not familiar with the Radio Shack Pro 60 but you will probably find it can receive NFM in what is described as simply FM.
EDIT
more info here
http://en.wikipedia.org/wiki/Frequency_modulation