When people are measuring power, they are using a USB power measurement, correct? The one attached to the nucleo board opposite the RJ-45 adapter? I bought a USB power measurement device and am seeing about 120-160mA on that USB.

The best thing to do is to read off the current without a daughterboard installed to get the baseline for the Nucleo + caravel board, and then read the difference with the daughterboard installed. However, both Nucleo and caravel chip will change current depending on whether pins are configured as input or output.

I think I'm supposed to be using the User USB (CN13) actually. I had it mixed up.

CN13 is what you use to get the Nucleo filesystem mounted remotely. All of the power delivered to the board and to the Caravel board and chip goes through CN1.

Ah. Hm.