Well, there is a six-hour time delay between Italy and the East Coast of the US, so I think it makes sense for NBC to not telecast the figure skating events during the day. After all, most of are out of the house during the day with jobs, school, and other pursuits. We aren't a nation of television fanatics who have nothing to do but sit in front of the boob tube.
On the other hand, I do remember the LIVE telecasts from the 1980, 1988, and 2002 Winter Olympics. It was thrilling to watch the opening ceremonies from Lake Placid on live television (yes, I took the day off from work so I could watch this live), and it was thrilling to watch the "Battle of the Brians" from Calgary and the "Battle of the Carmens", also from Calgary, on live television. We had the joy of watching Katia and Sergei win their first Olympic pairs gold medal on live television.
And, of course, we all had the opportunity to see Sarah Hughes win the gold medal, televised live. Wow! Not to mention the fact the we also saw the saga of the pairs competition.
There's nothing like seeing a competition live to raise the drama-meter to the roof. Yet, we can still keep tabs on the competition via the Internet, so we will have "live" coverage of the figure skating competition, in that sense.
What will be annoying, in my opinion, will be the expected attempts by the commentators to play up the competition to us as if we don't know the final results. We also are not a nation of hermits, and most of us have access to the Internet and/or other means of communication, so we'll already know the results of the competition prior to the broadcasts.