it will be much less power-efficient, when jailbreak you could schedule the kindle to wake up once per 15/30/60 minutes to fetch the new data, set it as screensaver and then go back to sleep.
Bricked it few times in the process of figuring out more stuff about it, but luckily mine has a UART pads and I was able to restore it every time. A bit more involved as it's 1.8V if I remember right, but if you're careful it should be easy, provided you have the time.