I know what you mean, I've spent a lot of time on programs / plugins etc. and am still not sure what I may (or may not) do with them. Saying that though, I feel this exploration time is never wasted, even if there is very little to show for it, in terms of 'output'. It feeds into other things, over time.
Currently, I can see me using Live primarily as a sample-mangler, of sorts. The arrangement side of things I'm still unsure about.
Here's my Novation controllers / Live setup, I'm still messing about with possibilities, but these units make a lot more sense of the whole 'Live thing'. For one thing, To be able to do all that real time tweaking, is very interesting, as well as the clip launching thing. The Launchpad mini (in particular) is really good, I wish I'd looked at one years ago.