The last Live I owned was '05, and I was able to get a pretty good NBA simulation going when I messed around with the sliders enough. You've got to turn blocks and steals way down, and turn fouls up. The biggest flaw after that was the complete lack of a transition game.
I'll just read all the reviews in '07, and buy whichever one looks best. Unlike the rest of you guys, I don't form my opinion before the game is even developed.