As I said, I am on the same bandwagon now and, given the enormous difference in power consumption between WiFi activity and deep sleep, I intend to do it in phases. I mean: how much does it take when deep sleeping? How much energy does this sensor reading routine use? How much when transmitting via WiFI?
With all that, and measuring the energy usage of the different routines I can have a nice estimate of energy needs for a battery powered sensor and actually find out wether it's doable with an ESP8266 or not.