I too have noticed a severe issue with the battery of this phone. As an experience smartphone user of both the AT&T iPhone 4 and Blackberry phones on VZW this model is not even coming in close to an acceptable battery life.
I followed the recommended solutions provided by Apple (
http://www.apple.com/batteries/iphone.html) and I would literally be doing backflips right now if I saw anywhere close to up to 7 hours talk time.
I have restored the phone back to factory settings thinking maybe it was something I did, ran the phone for a day with just the SMS/Phone features and the apps it was pre-installed with and the same lousy results. Ran the phone down below 20% to ensure a full charge, 100% at 7am and by 10am it was already seeing 80% from just light usage.
This was with push notifications off, location services off, vibrate off, sounds off, screen brightness at about 60%, game center disabled via restrictions, BT disabled, Wi-Fi was on but it was set to not search for new networks, auto-lock on after 1 minute.
I am literally doing nothing on this phone and watching the battery life go down. Apple seems to want to just brush this aside right now from the responses I received in store and Verizon keeps saying its possibly a software (4.2.6 8E200) issue. Either way this completely ***** and I hope to find a solution soon because the phone is awesome in every other way.