I BELIEVE I HAVE A FIX:
I just noticed at first when I was out of wi-fi range that my Edge data connection wasn't working, kept giving me an error message when I tried to access data. I guess it hasn't been working since the update.
The fix for that was here:
http://limitededitioniphone.com/iphone-os-3-0-7a341-kills-any-non-iphone-data-pl an-yeah-right-ive-got-you-covered
(typing this from my iPhone, yay copy and paste)
Now when I turn on push, everything stays snappy, and no lag, or excess heat. It would make sense that without a cellular network connection to the push server, the phone would keep trying to establish one, hence the pegged CPU and lag/ low battery life.
See if you can use Edge on your phone and if not, try this fix. Should take about 30 seconds.
Message was edited by: elmaynardo