About the difference between the two live.path outputs - it confused me too though I had a bit of an idea what it might be. sometimes it's just better to try stuff out, have a look at the patch attached
Note that you MUST copy the code into a M4L device, if you just open this in Max it won't work: live.path, live.object etc only work if they are in a patch that is 'inside' a max device.
So here's my take on it: when you kick off a live.path both outputs give you exaclty the same. the key is, what happens with the path if something in live changes, eg you select a different track. Do you want your path to change to whatever the new selected track is? Or do you want the path to stay the same?
Have a look at the left live.path code and the message boxes, change the selected track in live and look at the outputs from live.path. then.. double click loadbang and you'll get the point.
Now look at the right hand live.path example: this is a canonical path to track 2. What do you want to happen if you insert a track to the left? do you want your live path to update to the new track or stay with the one you selected? or if you move the track around, do you want the path to 'follow the object' or do you want it to update to whatever happens to be track 2 now? again, look at the message boxes as you move the track around, and double click loadbang and see what changes.