Where can I download the live DVD or I have to use the existing (iDeneb / iATKOS) one?
There is no official livedvd at this time, the post made outlines how to make your own. Also, if one becomes available, it would be illegal to link to it or tell of it's location, just like every other release, you'd have to find it yourself.
So I am trying to take this all in. I am a little past newbie to Hackintosh, and a long time power user of OSX. I am trying to figure out what all the benefits are of this system. It sounds like it can be updated without having to reapply kexts, etc.? It also seems that it may have performance benefits being that it is a ram disk. So am I correct to assume that your main install always boots as a RAM disk, or is that only for installation purposes?
It's a livedvd.. like a Linux livecd, you could boot into a fully working installed OS X system right off of the dvd without having a working install on your hard drive. Literally, you would boot off of the dvd into a live OS X system.