As far as i know, these are the different playback options in Live : ( arrangement view)
1) double click on the stop button in the transport bar : returns playhead cursor to 1.1.1.
2) click with mouse on the colored bar of a midi or audio clip, press spacebar: playhead starts at beginning of that clip.
3) drag the mouse to make a selection, press spacebar: playhead starts at beginning of the selection.
4) by pressing alt-spacebar, playhead always plays from point where it was stopped before.
For example: when in play, press spacebar to stop at bar 4
Hit alt space: playhead cursor moves on from bar 4
Hit space bar again at bar 10, to stop at bar 10
Hit alt space to continue play from bar 10.
5) place playhead cursor somewhere in an empty area on a track and press spacebar : the playhead cursor will play from that point.
6) when you want to start play somewhere in a clip, do not click on the color bar of the clip but for example in the lower half of the clip and press spacebar: the playhead cursor will play from that point.
Hope this helps !
This was extremely helpful to me. Thank you.