jQuery now allows you to use live to handle custom events, something I've used in my latest project and found very handy. I have come up against a limitation/bug, however, that I'm hoping someone will be able to help me with.
When you trigger an event, you can pass additional array of data too, like this:
 $(this).trigger('custom', ['foo', 'bar' ]);
If you were just using bind, you could absolutely access these variables. However, if you're using live, it turns out that you have no access to data as far as I can tell. Am I wrong? Is there another way?
Here is some demo code to illustrate:
 $().ready(function() {
 $('button').click(function(){
  $('<li>Totally new one</li>').appendTo('ul');
 });
 $('li').bind('custom', function(e, data) {
  // this one works fine for old elements, but not for new ones
  $('#output1').text('Bind custom from #' + e.target.id + '; ' + data);
 }).live('custom', function(e, data) {
  // this one triggers for old and new elements, but data is useless
  $('#output2').text('Live custom from #' + e.target.id + '; ' + data);
 }).live('click', function(){
  $('div').text('');
  // just using click count to illustrate passing data in the trigger
  var clicks = $(this).data('clicks');
  if(typeof clicks == 'undefined') clicks = 1;
  $(this).trigger('custom', ['Times clicked: ' + clicks ]).data('clicks', clicks + 1);
 });
});
And the related HTML:
<button>Add</button>
<ul>
 <li id="one">First Item</li>
 <li id="two">Second Item</li>
 <li id="three">Third Item</li>
</ul>
<div id="output1">Result 1</div>
<div id="output2">Result 2</div>