My favorite discovery in Live is that you can 'overwrite' automation keypoints by holding SHIFT while you drag one point over other points. This saves me a LOT of clicking when I need to clean up recorded automation
Sweet, didn't know this! Thanks.
Another thing I only recently discovered is that you actually CAN collect your channels in groups. This is great for keeping your projects manageble, but even better is that you can put effects on a group as well! No more messing around with sends (I never really figured those out in Live), just slap what you want on your entire group and you're ready to go.
Groups only came along with version 8, so it's a relatively new thing. I was a bit confused about the group automation lanes (or rather about finding them!) at first, though...but what have you not figured out about the sends? They're pretty straightforward, afaik.