Someone should wake JohnVanraalt up for this one... he's doing some work with a band called "Operator" in Newcastle. They're brilliant, and they incorporate Ableton as part of a live set. The band is Vocals (femal, of course

), Bass/keyboard and ableton for beats and blips and the like. they're a three piece, and i can assure you they are anything but borign to watch... and don't spend much time stairing at a screen.
Then you've got guys like Infussion. Yep, seen them play live as a 3 piece - again, no less boring to watch than Faith No More... and certainly a lot more exciting than Sonic Youth or Alice in Chains one stage.
I think the thing a few producers starting out with live shows lack is other producers to perform with. You've got to know how to act with another performer and make sure you've got gear letting you take your eyes of the screen and onto something else. It's not an easy thing to do if you've spent all your cash on VSTi's and only have one controller - you will end up looking at the screen.
Now, i'm not getting into the "hardware constitutes a live rig" debate... no siree. All i'm suggesting is that what seperates a 'band' from some modern electronic performances is the equipment and the way they use it. Bands can be as boring to watch as a guy looking at a laptop. The difference in a good performance is how you connect with the audience. I mean, Folk is hardly an entertaining thing to watch... but the connection the performer/musician can create with their audience live extends beyond the emotion of the music when recorded.
Another example is an Orchestra. I love live classical music - but going to WATCH an orchestra :bang: Boring. You go for the music, and for the emotion live performance puts into that music.