I made a thread about Weezer the other day and Live are quite a similar prospect. They started off as a great rock band but eventually became a bit of a joke and these days people tend to forget their early glory. So if you haven't tried them already or have and want to talk about them, go ahead.
Live's "good" years are confined to their first three albums which are all excellent alternative rock with unusual passion in the vocals, strong writing, good lyrics and great drumming. Unfortunately their fourth album found them, seemingly deliberately, going for a tepid, college rock market. From the fourth album on, Live have made the odd good song, but not an overall worthwhile album.
Of their first three albums, 1994's Throwing Copper, which contains mega-hits Selling The Drama and Lightning Crashes, is the strongest. But beyond the hits are fantastic album cuts like White Discussion and Pillar Of Davidson, very worth checking out. At times its like REM if REM were capable of really rocking out. But 1991's Mental Jewelry and 1997's Secret Samadhi are also very good. After that, there's some diamonds in the dungheaps but be careful.