I want to keep using Google now and it's features, but I want to save as much battery as possible.
I think if you go into location in settings and uncheck GPS, that will help save battery.
What about location reporting and history?
You can, but it almost defeats the purpose of Now.
Which one can be disabled without losing much of the functionality of Google now?
I only turn off the GPS and have no problems with battery life.
So your saying you have location reporting and history on? I also have a app called auto 3g that turns mobile data off when screen turns off I would highly recommend it.
Location reporting and history on. That is what tells Now to tell you what is nearby and helps make judgement calls on places you might frequently visit.
Are you on 4.4 because even with both options off it doesn't tell me to enable any options like location reporting and history