It's taken for granted now with today's compact tractors. Live pto is when u can have the clutch pushed I and the pto will continue to spin. Not live pto, is when the clutch needs to be all the way out before the pto will spin.
I use my 9N for disking and brush cutting, both are 5 foot implements. Not as pretty as that Jubilee, though. She looks great. I have the overrunning clutch.