The Gentoo Linux 12.0 LiveDVD ships with the Linux 3.1.5 kernel, X.Org Server 1.10.4, KDE SC 4.7.4, GNOME 3.2.1, Xfce 4.2.1, LibreOffice 126.96.36.199, GIMP 2.6.11, and many other updated packages.
The Gentoo 12.0 LiveDVD uses AuFS for providing a writable file-system so new packages and other work can be emerged from the live environment. There's also persistent home directory support.
Gentoo's LiveDVD is available in x86 and x86_64 formats. More details at Gentoo.org.