HTmanning, HTmanning, HTmanning. The estimated battery life is VERY relevant. I don't know where you've been living for the past 3 years but one thing I give Apple credit for is that the stated battery life / meter and the rate in which it goes down is actually quite accurate. I do agree with you, that in the wrong hands or not understood, this number can me irrelevant but I give most people credit for knowing how batteries work. After all battery saving tech has been on phones for years and people are used to understanding it more.
Everyone knows, if you do roughly the same things on the computer over say a 10 or 15 minute period and intend to do approximately the same things for the rest of the stated battery life then actually it's an awesome reflection of what to expect. Years ago, you would have been right but today, even the PC vendors / battery technology has caught up. It's the same with my mobile phone. It's close enough for me to have been relying on it for work
I actually fell for the trap early on in these LION problems because for 3 years as a MAC user I came to rely on the battery indicator in my traveling working life. Then, believing that perhaps you guys know better, actually would sit and work for sometimes literrally the actual hours the battery life would last (as it said it would hours before). So, as I said, give Apple and the battery technology and people some credit, used properly, it's a GOOD number. Of course, recaliberating a battery can effect battery life expectancy per charge, but it's consistent once done so.