Man, what is taking so long on adding DTS-HD:High Resolution and DTS-HD:Master Audio decoding anyway?! The rumors of adding DTS-HD audio support are almost a year old now!
Oh well, I guess I'll just have to buy a stand-alone player that can support DTS-HD audio in some way. Doesn't matter if it's a Profile 1.0 or 1.1 player since I can just use my PS3 for any special features that the stand alone player cannot support
To answer the question above - BD-Live just adds internet support. Right now, with Profile 1.1 (Bonus View) players, we are limited to whatever special features are originally pressed on the disc. BD-Live adds the option for studios to create additional special features and content that
isn't pressed on the original disc and then offer it via a download. There's also the option to support basically anything that can be done over the internet, like sharing your favorite clips or hosting a chat - whatever. It just has to be written and then downloaded, so it's pretty much just up to studios to try out whatever they feel like paying for and then for consumers to download whatever catches their interest.