Kitchen Large Electric Appliances - worth buying new washer for efficiency?

I am trying to decide if it is worth buying a new washing machine (and dryer) to ultimately save money. I have a Maytag washer/dryer built in about 1997. I know I can get a new washer that uses less water (I have a well pump that uses electricity), less soap, does bigger washes (front loading), etc.... I am just not sure how long it will take to pay back $800+ for a washing machine before I start saving...

i can't back it up with figures, but i replaced my washer last year when the top loader crapped out. bought the matching dryer also. around that time i had replaced my storage tank as well. every year the power company 'adjusts' my bill. last month for the first time in twenty years the monthly budgeted electric bill went down 40.00. i know i'm using less water with the front loader so the pump runs less and my wife says the new dryer is faster.

I just purchased a new set at the first of the year.We have two small children in the house and do a lot of laundry.Our water bill at home dropped by $40 a month the first month!The high ef. detergent goes a lot futher too so that saved some more money there.The wife says the clothes come out cleaner too.
So I'm figuring for us it will take about 2 years or less to pay for it's self.:)

The new front loaders or high end top loaders are cheaper to run but I always recommend getting extended warranty with them as repairs are higher also. They don't break any more than standard top loaders but higher cost to repair. I only recommend Whrilpool, Kenmore, Roper, LG Seem to hold up the best