I really like Live Wallpaper. I'm old-ish and I still use 'em. Maybe it's because I'm still wowed by smart phones because of the bricks I used to use in my youth
Anyway, I've always wondered if the ones that are bundled with Sense (or any Android phone for that matter) are better optimized than the ones you install from the market because they're tied up properly with all the system files? It could just be good vs bad programing of course.
I like Seeds of Life, and I like Nexus Revamped PRO with all its cool options. I try a lot of the different live wallpapers from the Market, but admittedly, only a handful stay installed. I still really like the plain black and white option (and some of the other colors) from Magic Smoke. It never bogs down the phone either.