In my experience and maybe it's just my experience, it's not worth the aggro Pete, for one it normally starts smelling, and then i find a lot of the live food just dies off.
Other's maybe able to shed some more light on it.
Now for a slight distraction to your thread........
I'm not a fan of getting live food from the LFS, i think the risks (i.e. bad bacteria or parasites) outweighs the positive (nutritional value and perhaps some stimulation for the fish).
And if you are talking about your community fish, which i guess you are, i certainly woudn't bother, but perhaps that's just my attitute, as i wouldnt like to spend ages on my set-up then introduce some dodgy bacteria or parasite out the blue.
Rinsing them in water doesnt really reduce the risk of problems in my opinion.
I stick to prawns, white-bait, mussels, frozen foods mate and a good selection of branded dried foods with fresh vegetables for those that require or benefit from it, that's my practice.
I would be tempted to go down the live route if i could culture/grow the stuff myself, but i am a bit lazy. I tried my hand at growing my own brine shrimp once, just seems such a hassle!
The only thing i would probably do but i dont really have any fish that would really take advantage or need it, is use my own live bearer's and live-bearer fry for live food for bigger fish.