I hope this would be your last question on this topic :)
Liveupdate option for SEPM is under admin -servers tab.
Under liveupdate you have source servers , you need to click on edit. there are two options
1) Symantec LU using internet
2) Luadmin.
This option is for SEPM and not for clients.
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Number of content revision to keep : Are these the defintion updates to keep in the database ?
Yes
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These option will be enabled when you select Symantec Liveupdate server " : Symantec liveupdate server means our internal symantec server/management server or the original symantec server.
--> this is Symantec liveupdate server (liveupdate.symantec.com ) using internet.
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