I've worked as a DJ and have roughly 10 years experience using Ableton Live. When I've used Ableton for DJing, I've found it's really good if you set up your set and performance macros (filters, delays, reverbs, other effects) in advance.

I'd actually recommend Traktor (https://www.native-instruments.com/en/products/traktor/) if you want some training wheels/assistance getting all the beatmatching stuff right. It's a really great compromise between "live-ness" and all of the handy functionality you get from using software.

Some CDJs have pretty reliable/great sounding effects built in that do the job really well.