I've extended thecodeparadox's answer and added the essential functionality of a visible checked state. Here's the fiddle: http://jsfiddle.net/crowjonah/cfN5t
I restructured the inserted .after, and borrowing heavily from this answer, added a .live click function that will actually check and uncheck the hidden radio buttons, as well as give you the opportunity to change its appearance using CSS. I opted to use CSS background images rather than actual image tags with srcs stored in js variables, and added a .radio-image class to each input that we'll use as our jQuery selector to target only the radio buttons we want to turn into images. Here's the HTML:
<label>How good?</label>
 <input type="radio" class="radio-image" name="question1" id="best"    value="5" />
 <input type="radio" class="radio-image" name="question1" id="better"  value="4" />
 <input type="radio" class="radio-image" name="question1" id="average" value="3" />
 <input type="radio" class="radio-image" name="question1" id="worse"   value="2" />
 <input type="radio" class="radio-image" name="question1" id="worst"   value="1" />
The script:
   $(function() {
    $('input[type=radio].radio-image').each(function() {
        var id = this.id;
        $(this).hide().after('<a class="newrad" href="#"><div class="radio" id="' + id + '"></div></a>');
    });
    $('.newrad').live('click', function(e) {
        e.preventDefault();
        var $check = $(this).prev('input');
        $('.newrad div').attr('class', 'radio');
        $(this).find('div').addClass('checked');
        $('input[type=radio].radio-image').attr('checked', false);
        $check.attr('checked', true);
    });
});
and the CSS (where we now define the images and optionally their checked states):
label {display:block;}
.radio {
    opacity: 0.5;
    width: 80px;
    height: 80px;
    float: left;
    margin: 5px;
}
.checked {opacity: 1;}
#best {background: url(http://www.placehold.it/80&text=Best);}
#better {background: url(http://www.placehold.it/80&text=Better);}
#average {background: url(http://www.placehold.it/80&text=Average);}
#worse {background: url(http://www.placehold.it/80&text=Worse);}
#worst {background: url(http://www.placehold.it/80&text=Worst);}