The 1ds III LV compared to the Nikon D3 is also crap... Anyway, the LV in DB is more of a marketing thing. I don't think a lot of mf photographers actually use it. My P21's live view is absolutely usable, but I don't need it. MF cameras usually have a good viewfinder already.
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We have quite a number of users who utilize the Live Video and consider it essential. While it's not perfect, these CCD sensors were not designed for it. The advantages for Live Video include the fact you are seeing exactly what the sensor sees, as it is focused directly on the chip. This reduces variances in focus from view finders, mirrors, lens elements, bodies being out of calibration.
It's also a much larger image on your monitor than in your view finder. For some applications, this is a great enhancement. It also works well with stylists at the food tabel and clients at the monitor -" No, move it right there, perfect", without having to take a shot. Some clients really get into it. It's just another way to offer value-add or differentiate yourself from your competitors. You can also use Live Video as a real-time compositional tool as most of the MFDB's allow for overlay into the Live View window.
I've always liked Live Video when using a view camera. For many who are used to a ground glass though, it's an adjustment, particularly the pace and your ability to make movement adjustments faster when looking through ground glass. But I've found once a photographer gets used to that slight delay, they become very fond of the Live Video. It's hard to not get used to focusing with a 30" full screen live feed instead of a 2.5" piece of ground glass.
Sinar is the only MFDB player offering Live Video that, when combined with the Sinar LC Shutter, auto-exposes and does not suffer from the flare of over-exposure which Phase One, Hasselblad, and Leaf are prone to. You can compensate for that somewhat by adjusting the aperture, utilizing ND/Polarizer filters, etc. But in un-controlled light situations, it is a challenge.
One other note - when you buy a Leaf AFi, you do not need to purchase the Leaf Live Video USB Key if you want Live Video, it works without it.
Steve Hendrix
www.ppratlanta.com/digital.php