Today I played around with Windows Meeting Space in Windows Vista and I must say it's really easy to use and make it possible for you to share information and collaborate with up to 10 Meeting attendees.
So you can share your desktop or (even non Microsoft) applications with the meeting member(S), which you can invite by creating an invitation file and send it through an e-mail for example or let them search for the meeting. Once the meeting is found they provide the password you assigned to the session. You could even connect the session to a network projector and not only share you meeting online but also through a projector.
Last but not least you can connect through an existing network or an ad-hoc wireless network.
Don't I need Live Meeting anymore?
Live Meeting is designed to help people collaborate from different locations, across corporate boundaries, and on different networks over the Internet. Live Meeting is browser based and can be used by any Microsoft Operating system. Live meeting support much more users up to 2500.