A great live album needs to capture the atmoshpere of a live concert. It also needs to be well recorded. It helps if the musicianship is very good. I think that is difficult to achieve.
My favourite live album is the Penguine Cafe Orchestra's 'When In Rome' which manages atmosphere, recording standard and the musicianship is superb.
I also find myself regularly listening to the You Tube videos of ASIWYFA when they were the support act for Them Crooked Vultures.
