Last two questions stayed unanswered, I hope "third one's the charm" works :)
I want application that is HDPI use those drawables in folder "drawable-xhdpi" and LDPI devices those in "drawable-mdpi". So I don't have to duplicate same images. Is this possible?
Yes, Android scales drawables, selecting the drawable that will produce the best result. But not all scaling combinations work that well. Downscaling to MDPI can produce noticeably poor results. XHDPI to HDPI generally produces pretty good results. But given that the overwhelming majority of devices these days are HDPI, it's probably worthwhile to have HDPI resources. HDPI to XHDPI scaling is not terrible. Some 1280x720 devices uses XHDPI resource. These generally look ok. Google TV uses XHDPI as well. On a huge screen, scaling errors are visible.
LDPI devices are -- for all practical purposes -- non-existent now.
True that generating scaled resources is an enormous PITA. But, in my opinion, you really need to do MDPI and HDPI. And once you've got that unpleasant workflow down, it doesn't require a lot of extra work to generate XHDPI. For what it's worth, if your artwork is in vector format, the vast majority of resources don't need tweaking for specific resolutions. There doesn't seem to be any compelling need to pixel-align edges of square objects, for example. Usually it's only interior features in complex icons and artwork that benefit from some amount of pixel-pushing.
It's pretty clear that XHDPI is going to be come more and more common. Trust me, you don't want to go back and re-do all your artwork in XHDPI after the fact. My advice: if you intend to still be shipping your app a year from now, suck it up, and do the nasty as you go, while it's still relatively easy.