My question is..is the galaxy s 4 powerful enough to handle some of the more memory hungry live wallpapers allowing it to run smoothly (as in screen transitions or multiple apps) at the same time?
I don't currently have an S4, but since there are tons of free live wallpapers, I'd say just download a couple and try it out. The S4 hardware is plenty powerful; the issue seems to be Touchwiz, and it's hard to guess how that might affect or be affected by live WP.