
This is an extraordinarily good card. It definitely ranks in the top 3 for the Forgotten Age cycle, if not being the very best level 0 card in the cycle. It is good for 3 simple reasons:
A: It plays somewhat similarly to Lucky! in that it lets you play fast and loose with your card and resource commitment to tests. Say for example you can beat a -3 with minimal effort (Agnes Baker Rite of Seeking investigating a Shroud 2 location for example) but there's a -5 in the bag, Live and Learn will help you beat that check with assurity.
B: It protects against tokens and very large negatives (more common in harder modes). Giving you a retry on that test.
C: It recovers lost time and resources! Namely the action spent to attempt that test and whatever charges, ammo, secrets, supplies, whatever you used on the original test. (In the example above, lets say Agnes Baker drew a -5, with Live and Learn she can try that test again, without spending an extra Rite of Seeking charge, and the +2 from Live and Learn will cover against another -5).
All in all, Live and Learn is the card to pick if you play through some key assets or events, the bigger the gun, spell or event, (or if you just got a good pupper) the better Live and Learn is.