I've seen several sites with people getting live wallpapers up and running on the Droid Eris. Does anyone know how to go about doing this?

You have a third choice also...Working maps or Live wallpapers (LWP). The first thing before any of these choices can be made is do you have root? With out root there are no LWP's. If you have root check out my post Current Roms there are a few that still have LWPs. We really got bored with the only animation or working part was the LWPs. Aloysus11 has them not too sure about anyone else.

Wish my friend but to much processing. No real openGL support or 3D in the Eris. We really pushed it with live wallpapers. I would go ahead and flash a Rom with the LWP's and get it out of your system. Of the LWP's out there the only two that look decent and don't freeze the phone is the nexus one and duck hunt. The matrix or logcat one is pretty cool but will freeze after a while. If you look at most of the custom Roms available they have abandoned using LWP's.

I don't want to sound as if I am telling you what to use that is your choice, I just want to make sure you have the information available to make that decision. The Incredible is packed with more Ram and libraries to run the LWP's, Sense UI, and Maps all at the same time. We can't OC our phone fast enough to run smoothly and not melt in our hands. Wish I had better news but that is it for now.