Feeding live Pros and Cons:
Pros -
1) Can get tricky eaters to feed
2) Easily accessible if you breed your own feeders
Cons -
1) Can be dangerous. Feeders have killed their potential predators before.
2) Expensive if you have to purchase retail feeders, and not always readily availabe
I feed frozen/thawed and have a freezer full of feeders. I order in bulk from Rodentpro.com, it's the most affordable way I've found to feed my animals outside of breeding my own animals (and add in a minimum wage time cost, and rodent pro still wins out).