I will leave the "live" vs. "studio" debate to others. It's nice to have a comparison recording. What I found interesting was the audience reaction to "There, Right There." In the US, audiences are laughing at the notion of European mannerisms (dress, customs, habits) as behavior that can be seen as "gay."
But the London (European) audiences are laughing at the notion of Americans being so influenced by these traits, which they don't register as "gay" at all.