I'm writing because I'd like to add a current-limiter to an output to make it idiot-resistant against short circuits and such. I'm starting with 5V and need to retain as much of that as I can, which eliminates easy solutions like configuring an LM317 as a current regulator (dropout voltage is way too high.) I've pretty well decided that I'd like to go with a transistor based current limiter like the current mirror, where the voltage drop will just be the CE saturation voltage (typically 0.3V?) which should be acceptable.

However, I got curious when I was trying to understand the circuit and I realized that it wastes a huge amount of energy. For whatever current limit you want to set on your load output, you must also dump that much current to ground continuously through the bias side. So if I want a 100mA limit, I have to dump another 100mA into the void 24/7. This seems silly and horribly inefficient, so...
I looked at the schematic for a circuit I'm vaguely familiar with, which appears to be a modified version of the current mirror layout:

I can simulate this in LTSpice, and it basically works, but I can't find any references online to how this circuit works. The two extra resistors (R61 and R62) seem to be allowing us to use a high-value resistor at R67 so that we're running about 5mA to ground instead of having to run 80mA to ground in order to set an 80mA limit. This is appealing to me (I hate the idea of dumping all that current to ground for no reason,) but I'd love to understand it better.
1) Is this a standard setup?
2) Are there formulas to calculate the current limit for different resistor values?
3) My understanding is that the standard current mirror is fairly independent of specific transistor specs - as long as the two transistors are reasonably well matched, it will work properly. Does this modified circuit share that trait, or is it highly dependent on hFe or other transistor specs?
Thanks in advance for any guidance you can provide!
*** EDIT:
adding one more question:
4) I've simmed this in LTSpice and played with values a lot, but with little understanding of why things are working the way they do. Along the way, it occurred to me that R62 might not be necessary, and I found that I can eliminate that, while getting roughly the same current limit, with R61 and R67 at 27 ohms and 1k, respectively. Any thoughts on what importance (if any) R62 has in this circuit?

However, I got curious when I was trying to understand the circuit and I realized that it wastes a huge amount of energy. For whatever current limit you want to set on your load output, you must also dump that much current to ground continuously through the bias side. So if I want a 100mA limit, I have to dump another 100mA into the void 24/7. This seems silly and horribly inefficient, so...
I looked at the schematic for a circuit I'm vaguely familiar with, which appears to be a modified version of the current mirror layout:

I can simulate this in LTSpice, and it basically works, but I can't find any references online to how this circuit works. The two extra resistors (R61 and R62) seem to be allowing us to use a high-value resistor at R67 so that we're running about 5mA to ground instead of having to run 80mA to ground in order to set an 80mA limit. This is appealing to me (I hate the idea of dumping all that current to ground for no reason,) but I'd love to understand it better.
1) Is this a standard setup?
2) Are there formulas to calculate the current limit for different resistor values?
3) My understanding is that the standard current mirror is fairly independent of specific transistor specs - as long as the two transistors are reasonably well matched, it will work properly. Does this modified circuit share that trait, or is it highly dependent on hFe or other transistor specs?
Thanks in advance for any guidance you can provide!
*** EDIT:
adding one more question:
4) I've simmed this in LTSpice and played with values a lot, but with little understanding of why things are working the way they do. Along the way, it occurred to me that R62 might not be necessary, and I found that I can eliminate that, while getting roughly the same current limit, with R61 and R67 at 27 ohms and 1k, respectively. Any thoughts on what importance (if any) R62 has in this circuit?
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