Ok I'm gonna do a pro's and cons style review of this software.
We'll start with the pro's..
Its really easy to pick up and you can create any kind of beat you want with it. You can use any sample you want to create a drum or instrument with. Which gives you the ability to make truelly unique sounds and beats. The standalone is really awesome to work with. And you can come up with unique beat in minutes. If you know what your doing(which doesnt take much learning) you can come up with some really awesome stuff. You can get any style beat you want out of it. Whether your looking for hip hop, rock, dubstep, or really fast heavy metal with double bass and hard hitting snares.. it is all completely 100% achievable with LR. The only limitation in that area is your imagination and your ability to create samples.
Now the cons..
First off the biggest downfall of Liquid Rhythm is it is specifically designed to work with Ableton Live. So if you dont have Ableton Live the VST portion is really irritating to work with in any other DAW... I use Sonar X3. For instance most drum/beat VST have a built in loop to make it easier to refine certain parts of your beat. With the Liquid Rhythm VST you have to use the one that comes with your DAW and it is extremely frustrating and I feel makes the VST nearly useless. The standalone has a built in loop I have no idea why they dont keep it in the VST.
The support isnt very good for Liquid Rhythm especially if you dont have Ableton Live, it takes them a long while to get new updates onto Steam, and since I've bought this software it seems every update only adds to more functionality with Ableton Live adding very little for people who use other DAWs.
There is a bug that really hurts the VST that should have been fixed long ago but still has not been. You can't set each drum track to its own track within your DAW. The options are there to do it but it doesnt work. I have reported this bug and so have others. It doesnt cripple the vst or anything but it does make it a lot more time consuming to properly record a beat than it should be. The only way to successfully record each drum/instrument on its own track for proper mixing is to completely build your whole beat within the VST. When finished mute all instruments except for one and record them one at at a time. Doesnt sound like a big deal but if you've got a 5 minute song and your beat within LR consists of 15 instruments.. multiply 15 times 5 minutes per instrument... Thats 75 minutes or an hour and 15 minutes just to record a 5 minute beat(of course it will take more time than that as you have to create a new track and set the track you want to record on which will take a minute or two extra for each instrument). When you get that done you still have to take the time to mix it all. This bug may only be in Sonar X3 but if I remember right people with other DAWs were reporting the same trouble.
The DLC. I feel some of them should be part of the standard version like the randomizer and groovemover. It is completely functional without them but a randomizer should be standard equipment for any drum/beat plugin/software.
I really wish Steam had a thumb sideways, as I dont want to give it a thumbs down or up. It may look like I had more bad than good to say about it, but the way I feel about it is the Standalone is awesome, you can come up with a totally unique beat in just minutes and just keep adding to it. But the VST I feel is just so horribly integrated with your DAW it will make you want to pull out your hair before you get a complete beat done with it. This probably isnt the case with Ableton Live but a lot of people choose to use other DAWs like Sonar, FL Studio, and Pro Tools..
Another thing that I find really irritating about the VST is the VST still kind of runs as a standalone it is not brought up within your DAW like most other VST's. Its brought up in its own seperate window. So you have to work within two seperate windows. Most VSTs you have them both right in front of you. With LR you have to constantly maximize and minimize between your DAW and LR.
Long Story short the Standalone is awesome, but the VST is just a pain to work with.
If you are wanting a fun Standalone Software to create beats, then by all means buy it. But if your wanting a good addition to your plugin library, then steer clear if you arent using Ableton Live.
I'm going to give this a thumbs down. As I cant say its a practical VST to buy if your a serious producer. I will gladly change it to a thumbs up if they start making it more useable within other DAWs.