Not LiveView but maybe related.
the MOA LiveCD (bartpe 2003sp1) has VMware WS 6 and Converter on board.
You can create a snapshot of a physical disk and directly start it as a VM.
Redolog can be in ramdisk or portable USB-disk or even in network.
At sanbarrow.com you wil find a video: the "as-if-stunt" - it shows how you go to any box- boot it into the LiveCD, use WS-GUI to create a rawdisk descriptor, create snapshot with VMrun.exe and start the VM at once.
You do not need 5 minutes after reaching the box and you can already start that box as a VM with a snapshot.
I maintain this LiveCD since 3 years now - and I am getting bored.
Any interesting challenges, ideas are welcome