I can't imagine downshifting saving gas, but I agree that it provides minimal wear on the driveline if done correctly. If you don't rev match, sure - there will be clunks which are bad, but if you do, it should be as smooth as upshifting.
Honestly, while I do it, I don't see any huge benefits when you are coming up to something like a stop light (except that if it turns green you are ready). Where it helps is coming into corners when you need to be able to get back on the gas in the proper gear for exit speed. It allows you to brake (in a straight line) and downshift to maximize you decelaration and your place in the power curve.
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