Sysinternals Live Beta was announced yesterday. Sysinternals have developed highly acclaimed and useful software for Windows for a long time, they are the developers of Autoruns, Process Explorer, Process Monitor and dozens of additional applications that at the top of the field in their category.
The Sysinternals Live service is basically a way to access the tools from the command line or Windows Explorer directly. The directory containing all the tools is accessible at http://live.sysinternals.com/ and the command to load a tool from that directory would look like the following: \\live.sysinternals.com\
I really cannot see an advantage of this method over downloading and using the tools directly. If you place them on an USB device you can also use them on computers that are not connected to the Internet which is probably the biggest advantage. On the other hand if you access them at the live site you can be sure that you are using the latest version of the tool.