I'm on a different line of thought for a moment.  This is an ANT+ implementation and the device profile dictates a 4Hz channel period.  Does ANT continue to send at 4Hz even though I only wake it and send data at 1Hz?  That would clear things up.  If so, ignore the rest.  
If not, here's more detail.
A re-read of the power states cleared up "base current" for me.  I configure the channel settings and open the channel using command (0x4C).  I wait for RTS to be de-asserted between all commands used for configuration of the channel.  I do have successful communication with my slave device (Garmin cycling computer).
Upon opening the channel, I raise the SLEEP line.  I have waited up to 5 seconds also, just to make sure unknown things have had a chance to settle.  This procedure is to test power consumption without communication because I intend to use the SLEEP state a lot.
This design does have a 32kHz crystal.