Its much easier with Playonlinux. Then you don't have to compile wine versions. Try this
1) Download and install Playonlinux make sure you get latest version 4.0.12 see the download page for your distro at playonlinux.com
2) Launch Playonlinux click install select internet exlorer
3) Run internet explorer then go to Onlive, signup and download setup file to desktop
4) Open Playonlinux again, select tools, then select 'manage wine versions' install version 1.3.27 rawinput on x86 and amd64 then close that window
5) On the main Playonlinux window lick at bottom of window "Install a non-listed program"
6) Click next
7) Make sure option "Install a program in a new virtual drive" is selected and click next
8) Give it a name, e.g. "OnLive"
9) Select "Use another version of Wine" and click next
10) Select "wine 1.3.27 rawinput"
11) Browse to OnLive-Setup.exe
12) Install OnLive
13) Select the OnLive.exe, click next then type the shortcut, click next
14) Click "I don't want to make another shortcut"
And you're there :)
If you have audio problems try killing pulse audio process before launching onlive