Key features
    Multitrack recording up to 32-bit/192 kHz
    Nondestructive editing with unlimited undo
    Powerful MIDI sequencing of software and hardware instruments
    Advanced warping and real-time time-stretching
    Library with over 1600 expressive sounds, each with versatile control options
    A comprehensive selection of built-in audio and MIDI effects
    A wide range of software instruments
    Instrument Racks for simple management of complex instrument setups
    Drum Racks for intuitive and responsive beat-making
    Effect Racks for professional-grade mastering, mixing and creative sound processing
    New groove engine; apply and extract grooves in real time
    Construction kits containing loops and phrases in a number of styles
    Sound Objects Lite, from SonArte: a toolkit of real world object recordings
    440 MB of abstract, experimental loops from renowned music software pioneers Cycling '74 *
    Over 400 loops and samples from Zero-G *
    1000s of single-device presets: simple components for making new sounds and exploring synthesis
    Song templates with pre-configured tracks and routing
    Supports AIFF, WAV, MP3, Ogg Vorbis and FLAC files
    VST and AU support; automatic plug-in delay compensation
    REX file support plus built-in audio to MIDI slicing
    Video import and export for scoring, video warping
    Simple MIDI mapping plus instant mapping for selected hardware
    Full ReWire support; runs as Slave or Master
    Multicore and multiprocessor support
    Support for The Bridge, Ableton's collaboration with Serato

8.2.7 Release Notes
Improvements and feature changes:
- There is a new entry in the Options menu: "Reduced Latency When Monitoring", which toggles latency compensation on and off for tracks which have input monitoring on. When enabled, input-monitored tracks will have the lowest possible latency but may be out of sync with some other tracks in your Set. When disabled, all tracks will be in sync, but input-monitored tracks may have higher latency. Before, the option was only available via the 'StrictDelayCompensation' options.txt, and was ON per default. It now defaults to OFF.
- When restarting after a crash, Live will now display a warning in the Help View if the crash was caused by an issue with a VST plug-in. Note: this is currently for Mac OS X only.

Bugfixes:
- Authorizing a full version of Live would sometimes activate a feature-limited version (Live Lite or Live Intro).
- Fixed a bug that prevented setting the start marker of an audio clip before the sample start.
- On Mac OS X, saving a Live Set could lead to an unresponsive Save dialog box, if the destination folder contained an alias file which points to an unavailable volume.
- Fixed a crash which occurred when importing a Drum Rack with a routing to a return track.
- 3 additional crashes were also fixed.