Most live rock is simply rock that has been colonized with beneficial bacteria, and normally covered with coralline algae. This is the typical rock found in most LFS stores, as well as many online stores. Unless your rock comes directly to you fresh out of the ocean, the odds of it being covered with marine life is very slim. Most rocks that are imported go through a re-curing process, as there is usually quite a bit of die-off during shipping. These rocks are typically exposed to saltwater sprays, while sitting on racks. Much of the flora either dies of falls off, as well as many of the hitchhikers that came along for the ride. TBS rocks aren't treated this way, as they are locally harvested. That's why there's plenty of life still on the rocks once you get them. That's also why they come at a premium price. I typically buy dry rock and allow it to become live naturally. It only takes a small amount of mature live rock to seed the new rock, and there's no worry about any nuisance hitchhikers or algae to deal with. I get a few hitchhikers on corals that I order online, as they don't go through the same salt spray process as rocks. It's much easier to find these things on a small chunk of rock, and remove any pests, than it is on a big rock. Naturally, I don't get the wide variety as fresh harvested rocks, but I've gotten some pretty neat critters along the way. I'd rather play it safe and choose which ones go in my tank, than to try to get rid of an unwanted guest that slipped in under the radar. Just my 2c...
To answer your question... if you paid less than $3 per pound, you got your money's worth
