I would like to have devices in live that can generate automation messages themselves without them having to come from an external device.
For instance, an LFO device that can be routed to whatever parameter you want. This would eliminate the need to manually draw or record these onto the clip or into arrangement view - and you would have the flexibility of being able to change the frequency or waveform or whatever.
I don't know if you can do this with Max for Live or not.. I would hope so.