Re: live install... with updates???
Sorry, can't offer any advice on a live install with the most recent updates, but what I usually do is a network install, so I can get the most recent updates. This does limit you from experiencing the OS before an install, but if you also have a live cd or plan on using the OS anyway, it might be the way to go.
The combo of downloading both isos (net and live) also would be potentially less downloading than the dvd if bandwidth might be a bit of a concern. It becomes even nicer if you have a CD-RW handy, so you don't waste discs.