I want to run and install some applications on my Linux distributions on the VirtualBox. So what is better 'live' versions or full installs on the VirtualBox? What is the difference between the two (regarding features and required configurations)?

I use, Toshiba Satellite p755-s5215:

* RAM: 5GB
* Processor: Intel i3
* CPU: 2.10GHz
* Graphics: Sandybridge Mobile
* OS: 64bit