Sadly, I am apparently told that either the 1.5 GHz dual core Snapdragon in the Rezound is of rather poor quality compared to Texas Instrument's 1.2 GHz dual core OMAP variety, or the Adreno 220 is poor compared to PowerVR. Even though Sense 3.5 is supposedly lighter on resource use than 3.0, the Rezound still tends to hiccup a lot with graphically intense live wallpapers. Not really bad... just disappointing.
The Nexus also has the lag with some of the live wallpaper