This post is going to sound like complete gibberish, if you’re new to this stuff. See the Ableton Live 8 and Max For Live posts for more info!
This tutorial demonstrates how to create a simple hardware controller for Ableton Live while utilizing Max For Live and Open Sound Control (OSC).
The video touches on the Max For Live API, OSC, and the JazzMutant Lemur.
More Max For Live OSC goodness below.