No. I tried it once, but it was too busy.
The default 3D things can be pretty hideous. I started out infuriated -- it looked nothing like the Lite preview version -- but with a little tweaking, you can come up with something really elegant. So after starting out hating it, and hating myself for getting sucked into paying for it, I now love it, and think it's totally worth it. I have glassy transitions, widgets that swing when I change screens, and a cuboid app drawer, but otherwise, a very, very minimal design.
I'm using a subtle live wallpaper called Symphony of Colors, so the screencap doesn't quite do it justice. For example, some of the text that looks too light is often on a plain black screen. In context, it's kinda nice I think. I'd want to do more tweaking before I posted on a proper Show Your Homescreen thread.

It may also not meet your definition of elegant, but I have pretty bad taste....and at least it's not very busy.
There are only a fraction as many Next themes as there are for other launchers, but I'm very fond of
Vivid v2 from Stealthychief, seen above. (No matter which launcher, including stock, you need some Stealthychief icons, themes, etc: fun, creative, beautiful.) Very definitely toward the minimal, rather than busy end of the spectrum.
I haven't pushed too hard on
the Pure theme, but it looks good after a couple of quick pokes -- and yes, another minimal one.
Which is to say, I'm not disagreeing with you, HanSolo, that out of the box, it's a little overwhelming. But with a little cleanup to the look, the underlying framework is a joy. Added bonus: it makes my iPals' jaws drop.
I'm also definitely agreeing with others on this thread, Crosley123, launchers and themes are one of the great benefits of Android.