Just wanted to post and let you all know about my (sort of new) live wallpaper:
Target Live Wallpaper
There are tons of settings (possibly too many, I'm looking to simplify configuration in the future) ranging from static targets, 3d models and tron-style rings.
Check it out and let me know what you think (heads up, Robert is reviewing an older version ).
Target Live Wallpaper in the Android market.
Target Live Wallpaper at Google Code.