Everything here is live, or at least relatively live. If you use the standard type streams in a browser they are usually only delayed by a couple seconds, up to a minute of delay.
If you use streamtorrent (it appears, from what I've used so far) that the delay is even longer than that.
If you watch sports on satellite tv or even HD TV over cable you will notice there are a few seconds of latency involved. The "most live" you can get is standard TV, IMO but obviously the HD is worth it for just a few seconds of delay the picture quality is far superior.