This is fantastic, welcome news, and will make understanding and watching what happens on the House floor far, far easier. The site features slick technology for streaming and searching through video, and even offers advanced customizable searches and RSS feeds.
Our 2007 Open House Project Report made similar recommendations, suggesting that:
It is our recommendation that all Congressional videos, floor proceedings and committee hearings be made available to the public over the Internet.
HouseLive.gov is a fantastic improvement, and one I'm looking forward to getting used to.