I have seen a lot of live wallpapers and, truth be told, I'm generally not that impressed most of the time. Every once in a while, though, one comes along that is just so nice that I want to share it with everyone. This is one of those times.
Photile Live Wallpaper creates a LWP from any existing image. It adds a level of complexity to the images, while not overdoing it (a difficult task, I might add). It's elegant, smooth and beautiful. I could attempt to explain what it does exactly, but instead I will just share this video:
See what I mean? It's highly customizable and offers a lot of features, one of the few live wallpapers that I would actually use on a consistent basis. While there is also a free version that has less features, I feel that this one is worth every penny of the 99 that they are asking for.