I've used live wallpapers almost exclusively since I got the phone. My favorites:
aCircuit Board
Digital Rain (Droid red matrix looks awesome)
Mario
Nexus Revamped (current)
Pixel Zombies (with my property as the background, snagged from Google Maps)
Starfield (probably the one I use most)
Substrate
In my experience it's been rare for the wallpaper to even show up on the battery use list. The only one I recall is Mario and it was something like 2%, no big deal.
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