I've being trying all my tricks to find anything on Col Talbott. Note the 2 t's. There appears from the SOS record that the UDC has/had a file on him at some time. Scrounging around in the census records gives me a Sanford Talbott born about 1815 and living in Bourbon County Ky in 1850 still with his presumed parents Mason and Susan Talbott. Noted also in the houshold a number of siblings. The entry for 1860 has him living with his sister?/wife? Amanda (18 y/o) with a net worth of $11,800 and owning 21 slaves, likely an inheritance. 1870 finds him in a dwelling with Amanda/Maudie, sister Nancy, and a list of obviously freed but still employed slaves. I can find no further entries beyond the 1870 listing. Caveat!, when looking it appears that many of his slaves took the name Sanford Talbott and used it for many years thence so follow race carefully because nearly all 20th century listings are for blacks that can be traced to one of the 21 listed on the 1860 slave census.
With that in mind I have no idea if the Sanford Talbott of Bourbon Co Kentucky is the Col Sanford J. Talbott of the M.S.G. I'm inclined to dig into one of the refernces Jim gave and see if maybe there is something in those that sheds some light on the subject.
Did run across a 4th potential source for Livingston:
Major Thomas R. Livingston; His Life and Times
Written by Rowland Diggs of Carthage, Missouri
Have fun and let us know what you find!