As I have understand - Live SDK has supporting 2 main features: OneDrive and Microsoft account
Now with release OneDrive SDK all OneDrive features are coud be found in it. But if you want to access Microsoft Account you still can use only Live SDK.
Seems that now we have 2 branches - Live SDK and OneDrive SDK.
One for account and another for files.
I am asking because sometimes it's not clearly written and looks like live SDk is depricated.