Just a quick post today. I've noticed lately that I've been having issues with Live Meeting. When I try to change the audio device used for the meeting it simply hangs the application. What's changed recently is that I've been plugging in my Logitech Quickcam Pro 9000 lately. I have all the latest drivers and the camera works great in Live Meeting or Communicator. It's when you go to change the settings where things go south.
Anyway, to resolve it I simply unplugged the camera (since I have an embedded one in the monitor).