I, personally, could give two sh!ts about both ViiV and Live!, but I guess there are lots of consumers out there looking to add "multimedia PCs" to their home entertainment systems. For that consumer group, I suppose being able to discern the difference between these two standards, as well as the features of each, could be important to know...

"A digital entertainment computer proposed by Intel ViiV and AMD Live! platforms is in charge of distributing digital content (data, music, movies, photos, etc) to other electronic equipment such as TVs, notebooks, MP3 players and PDAs."