Sorry john, i gotta call you out on that.
Live is a great program and although ive seen the features of Live 8 it still has a long way to go as a sequencer and particularly for recording in the studio.
good proggy though
Myself...
I use Logic for sound design
Cubase for in-place editing
Pro-Tools for REcording bands
Fruityloops for creating loops and twisting sounds
Reason for fun!
And LIVE for ...errr LIVE work and as an all purpose tape recorder.