Is there anything better than live recordings?

Disagree 100%. A lot of great music is created and built in the studio, and was never intended to be performed live but rather heard on recordings. 

@bipod72 - I don't think they were talking about bootleg recordings. There are hundreds of legitimate Grateful Dead live releases that are among the best sounding live recordings you'll hear. I have every one of the box sets. The Dead made sound quality a priority ever since the days when Owsley Stanley designed their sound systems. 

@bipod72 - good points - back in the 70's, there were a few record shops that I would scour for the latest bootlegs from Zeppelin, Pink Floyd, etc etc. Some sounded decent, but most were pretty dreadful audience recordings.