Although I admit I haven't had much of a chance to play with the Live View feature of my cam.....I doubt that it is something I will ever use.  With 100% viewfinder coverage, I don't see much point.
Both the Canon and Nikon DSLR live view screens are NOT articulated....so, it wouldn't be much help on odd angle shots.
While there may be some limited benefit to having live view (eg,  low light as Danny points out...and perhaps studio settings), I agree with Inshaala....it seems it is more of an attempt to lure some of the P&S folks into the DSLR market.

One other point to note.....If you are using live view, I would think that you should be covering the viewfinder as any light coming in there may negatively affect your exposure reading...

In youth, we learn....with age, we understand.