I was thinking about performance regarding
.click() vs .live(\"click\")
and that left me wondering about how .live does work.
From the jQuery manual on .live():
The .live() method is able to affect elements that have not yet been added to the DOM through the use of event delegation: a handler bound to an ancestor element is responsible for events that are triggered on its descendants. The handler passed to .live() is never bound to an element; instead, .live() binds a special handler to the root of the DOM tree.
As you see, there is no timer involved.