At long last, the 2011/2012 season rosters are available!
NLSC Current Roster Update for NBA Live 08 v5.0 
NLSC NBA Live 08 Current Roster Update
NLSC NBA Live 08 Current Roster Update (Roster Only)
Roster Patch Age Fix 08Key features of v5.0- 2011/2012 Season Rosters accurate as of April 23rd, 2012
- Player ratings updated for more realistic performance
- Primacy ratings updated for better shot distribution
- Player positions and data updated/corrected
- Cyberfaces and portraits for missing players
- East/West All-Stars Updated for All-Star Weekend 2012
- Rookie Challenge teams Updated for All-Star Weekend 2012
- Fatigue Fix by Maek
- Player Accessories Updated
- Contract & Salary Info Updated
- Seattle Supersonics changed to Oklahoma City Thunder
- Logos, courts and jerseys updated for the 2011/2012 season
- Fixed Installation Routine
- Fixed Shoes
- Fixed Legends Ratings
- Coaches Updated
- Second 90s All-Stars team added
- Some Go To Moves and Signature Shots updated
- Hot Spots updated by nbalive06user1
- Final 2008/2009 Season Rosters
- Final 2009/2010 Season Rosters
- Final 2010/2011 Season Rosters
- Individual Team Jerseys for the Rookie Challenge Fixed/Updated
Please note that the rosters were finalised before Xavier Silas and Derrick Byars signed on in the final days of the season, and the lineups reflect the late season rotations where many key players were resting. I anticipate releasing another roster within the next week or so containing those transactions, lineups updated for the first round of the Playoffs and any other updates/fixes as required.
Thanks everyone once again for your patience. I hope you enjoy the rosters, as always please feel free to leave constructive feedback and bug reports for the next release. As a final recommendation for the moment, I'd suggest trying the rosters out on a fresh installation of the game if you encounter any difficulties, issues with the court updates or crashes.