Bruce Springsteen came out with a live album a couple months ago. It's pretty good, arguably better than the studio album the songs were pulled from. R.E.M. just came out with a new live record, though I haven't heard it yet. Also, it depends what you mean by new. Joy Division just released some live stuff from the vaults. Dylan's Bootleg Series 7 came out relatively recently. A new Johnny Cash live album came out last year. Richard Thompson did a double album of live covers a couple years back and just came out with a new live album. Wilco and The Melvins each released a live album in 2005. My Morning Jacket put out an excellent live double album in 2006. Daft Punk just dropped one last year. Neko Case did too. Marc Broussard put out a live EP last year. The White Stripes did the same in 05. The Harry Smith Project Revisited came out in 2006, which featured guys like Lou Reed, Nick Cave, and Richard Thompson. There were a couple good benefits in support of Hurricane Katrina victims as well. Widespread Panic has come out with 4 or 5 live albums over the past 5 or 6 years. The Who came out with one in 2006. Steve Earle did the same in 2005. Dave Matthews (my wife is the one who likes him, not me) came out with one in 2007. Matisyahu (got it as a present) came out with one in 2005. Rhonda Vincent & The Rage came out with one in 2006. The Cedar Cultural Center here in Minneapolis put out a sweet live compilation in 2006 featuring people like Ali Farke Toure, Gillian Welch, Loudon Wainwright III, and Doc Watson. The Counting Crows came out with one in 2006. The Mars Volta did the year before. A mash-up (they didn't call it that, but that's what it is) of a live Ray Charles show and the Count Basie Orchestra came out in 2006. That's just off the top of my head. I'm sure there are many more. And that's not even counting the hundreds of live classical and Jazz albums that come out annually. I used to be of the school of thought that live albums sucked or were, at best, unnecessary. I always loved the Velvet Underground's live stuff (Live 1969 & Max's Kansas City), but other than that, I never liked live albums. I always thought studio versions were superior. That all changed when I saw "The Last Waltz", about The Band's farewell concert. Neil Young's version of "Helpless" in that movie is twice as good as it is on "Deja Vu" (and it's pretty good there too). It really opened my eyes. Since then, I've been a devotee of live records. You have to be willing to overlook some flaws in a live record. For example, "Live At Max's Kansas City" was recorded on a home tape recorder that a friend of the band brought to the bar. Because of that, the sound quality on that album is piss-poor and you can hear people ordering drinks and stuff. However, it's still a great album because of the music. Also, alorrigan, your point about different versions is well-taken. However, I don't think that is necessarily necessary to make a live album great. Check out any of the live Ramones albums. The songs are generally almost identical to the studio versions (maybe faster and wilder), but that doesn't detract from the albums. Sometimes a band just gets into a groove and the result is worth hearing. Judging live albums can be nebulous, because much of what makes one good or great is something almost intangible. It's soul or feeling or whatever you want to call it. Also, I think part of the reason for the seeming decline in live albums is that many songs are difficult to recreate on stage. I saw Andrew Bird live a few months back and he sounds like garbage live because he has to use a bunch of backing tracks to recreate his songs. I think he would be better off rearranging his songs rather than doing that, but most of the audience was loving it, so whatever. Hip-hop songs are almost impossible to make sound good live (imo), because few artists use bands, and the ones that do, are not talented (The Roots, I'm looking at you). The shows can be fun to be at, but because of the necessity of backing tracks, it's not really possible for an artist to stretch out on a song like a band can. That makes the albums generally superfluous and of dubious relevance. Some guys have the kind of stage presence that can pull off a live album (DMX, for example), but even groups like OutKast and the Wu-Tang Clan aren't great live. So, with the rise of hip-hop, I think a corresponding decline in the release of live albums makes sense. That doesn't mean some people aren't coming out with excellent live albums though.