I prefer the energy and excitement of live music, it just doens't translate as well when recorded.
Jazz (and other improvisational music) is one exception where live recordings can translate way better than studio. I agree that some of the live SRV releases have some great playing.Almans at the Filmore
Wes Montgomery Smoking at the Half Note
Pat Martino Live at Yoshi's
SRV Live at the Mocambo
KISS Live Alive (okay, maybe not that one)
If a band isn't better live than on a record then I probably don't like them (with a few exceptions)