WD TV Live with a thumb drive?

simple question, can I stream video from a thumb drive on the western digital TV live?  I am not sure it would work since the thumb drive is not powered.

Yes. Its powered via the usb port.

thanks, that will be perfect, I will just leave my 3 external 3 TB hard drives connected to my PC at all times because I am constantly adding content, and when I want to watch something I will just copy it to a flash drive, eject it and pop it into my TV Live, and watch.

Your flash drive needs to be formatted NTFS if files you will be putting on it are over 4GB, and most feature length movie video files are.