Ableton Forum

For those who might be a little hesitant to just go lopping off their preferences directories (Live 4 & Live 5), you can just rename them to something else. At least this worked for me under Windows.

I second that.

Stylus RMX seems to use the operating system's drag-n-drop, and having support for O/S drag-n-drop in Live would certainly make a few things significantly easier.