Are the games any good? I've always been curious if a game where you only manage your team would be fun. The newest game's trailer, Football Manager Live, piqued my curiousity (First few seconds are NSFW.)
http://www.youtube.com/watch?v=MIQIT7xJcwA

I'm 75 hours in my Football Manager 2009 game and all I can say is that the game is brilliant... If you like football, of course.

The Football Manager series are very good and the only real choice if you want a proper managerial sim.
You'll want the 2009 version which is pretty much the best yet, while 2008 was a slight "slump" in the series after a very good 2007.

Steam's calling it Worldwide Soccer Manager 2009. Is it the same game?

Maybe it's something different in the US (since I guess you primarily think of a different sport when you use the word football). I can't find anything named that in my Steam.
http://store.steampowered.com/app/10540/
^ Link to what should be the correct game, Football Manager 2009.

Yeah, I guess they do call it Worldwide Soccer Manager 2009, as it said that from the link you lead me to. I may give it a try, though the online one is cheaper, so I'll have to think about which one to get.
EDIT: Oh, and Football Manager Live has no five activation SecuRom activation, so that's another thing to consider over 2009.

The only Football Manager game I've ever played is this one ;-)

Well, a heads-up with FM Live is that you can't control real-life teams in that game.

Yeah, that's something to consider. I don't know whether I'd like either, since I do like soccer, but I'm not familiar with foreign teams, and I'm not sure if I would want to manage over actually playing in a 3D game, like FIFA.
Then again, the idea of managing a team sounds kind of exciting...

I played it back when it was still known as "Championship Manager", but I've enjoyed each years one less and less.
I guess it just takes up too much of my time if I let it, so I'm best not returning to that level of addiction...

Just a note: Football (Or soccer, it depends on where you are in the world) Manager Live does require a monthly fee to play:-
Subscription Rates.

Bah! Never mind.