I had some very weird iCloud Photo Library storage discrepencies that at first made no sense until I figured it out. So no one else need to go through what I did, I'm adding what I learned.
Just like with the normal camera roll, the iCloud Photo Library does not count non-favorited Burst photos when counting the total number of photos. Unlike with My Photo Stream though, iCloud Photo Library ignores the "Upload Burst Photos" setting and uploads them anyway. They get added to the total photo count under the Manage Storage section. That's why the Photo count in Photos and under beta.icloud.com may not match the count in the Manage storage area.
In my case, Manage Storage said I had uploaded 198 photos and 20 videos. All Photos showed a count of 154 of which 20 were videos for 134 photos. I have a "burst photo" with 65 bursts, one of which is favorited. That means that there are actually 134 + 65 - 1 = 198 photos, so the math adds up.
Something that doesn't make a lot of sense though is the fact that, despite having the "Photo Library" removed from my iCloud Backup when I enabled iCloud Photo Library, the actually backing up of the photos wasn't disabled. Since I set up iCloud Photo Library to "Download and store originals", that means my photos are now being backed up twice: once in iCloud Photo Library and once in iCloud Backup for my iPhone. That makes no sense since my understanding is that if I turned off backing up "Photo Library" in iCloud Backup and then did an iCloud restore from backup, that my photos would download from the iCloud Photo Library.
Basically photos take up double the amount of space by default, if you save the originals. That makes no sense and just wastes space.
Edit:
When I disabled backup up "Photo Library" in iCloud Backups, my current backup size shrunk down to 124 MB, with the next backup taking up 1.1 GB. That makes absolutely no sense. Why would disabling "Photo Library", which deletes the photos from the backup, remove all the other iCloud backup data?
I tried re-enabling backing up "Photo Library" in my phone's iCloud Backup settings and now it contains "No Data". Huh? So when iCloud Photo Library is enabled, it screws up iCloud Backup?
When I enabled iCloud photo library and selected keep originals. My iCloud backup went from 13gb something to about 600mb. When I go to manage backups, photos are still selected but it says no data. When I restored and updated to 8.1 it downloaded all the pictures and videos in full quality again.