[fellfold]

I play a lot live and even I am guilty of not paying attention when I am not in the hand, but I try to use hands to get information (mostly on betting patterns/habits). This is especially important when you are new to the table. I like to pay attention to the pre-flop raisers. What do they do when they miss? Will they slow play if they flop a monster?

Another thing you can do live (and I believe it saves me a little bit of money) is to watch for telegraphed action behind you. Many players (especially in limit) will have pretty obvious telegraphs for raises or folds.