I'd say that possibly one of the best ways to approach a live set is to use Ableton Live as your Mainsoftware. It will mean that you'll have to adjust to that program and to get used to its workflow. Also Ableton Live has some restrictions compared to cubase or logic or sonar, but when it comes to live play it gives you the most possibilities, this is out of question.

It also depends heavily on your style. The thing that will always be difficult in live play is all the sudden breaks and changes in your music.

I'd say that assuming you are a one-person-live-act you basically have two possibilities to play live:

1: You have a prearranged song narrowed down to say 8 tracks and you play live instruments along with it. That can be anykind of instrument, DDrums, Violins, EGuitars, Midikeyboard with VST-Synths whatever... You can also mute single tracks of the song or add effects to them. You can have a synthline being played with a miditrack and you tweak the sound live. Depending on your skills and your effort, this can be "live" enough. But most electronic LiveActs actually playback the songs completely and in the best case have a synth on stage which they use to play very simple notepatterns every now and then. Mostly those note patterns are not even important for the song and could be left out completely. Some LiveActs of this kind even only play with the EQ of final mixdown of their "set". This you can do with cubase, logic, sonar etc. You can also have this softwares have predefined loops within the set so that you may stay in some parts of the song longer.

2: You have your music completely based on loops. You have all those loops in ableton live and you can play with combinations and sequences of those loops in whatever way you wish and create completely different songs every time you play live. Of course you can do all of the things mentiones in "1" in addition to that. The more complex your music is arranged, the more breaks and changes you have the more complicated it becomes to build it with ableton live.