Battery life on ios 6.1.2 is worse than ios 6.1.1 on 4S - any ideas or do we wait for apple to come up with yet another patch?

I found that deleting and reinstalling the exchange email helped. Or at least it seems to have fixed the problem for now! I wrote a little post on how to fix it: http://bkbeachlabs.com/blog/ios-6-1-2-battery-issue-solved/

Do you have an Exchange account on your phone?

Me too. And the back of my phone is over-heating! My batter will be fried soon!!

I had the same issues (poor battery life and my phone was running hot), but I was able to correct it by using the following steps.

1. Connect to my computer and take a complete back up

2. Restore to new (this actually downloaded the full 6.1.2 update and installed it on my phone)

3. Restored my phone from back up

I had to update several apps that must not had installed correctly after the 6.1.1 or 6.1.2 updates I made over wifi.

I haven't had any trouble since doing this. Good luck!