Computer Music, via its online portal MusicRadar, has a couple of new free tutorials for getting the most out of Live's effects. In this video, take a look at how to implement parallel (or New York-style) compression in Live.
A Closer Look at Live's Effects from Computer Music and MusicRadar
Next, review a list of six ways to get more out of Live's effects. Tips here include using high-quality mode in Saturator and Flanger, automating (rather than modulating) the frequency in Phaser, using Frequency Shifter to tune drums, and more.