As an anecdote, like many of you, I have also noticed a sizeable loss in battery timing since upgrading from Snow Leopard to Lion. I contacted AppleCare about it a few days ago when I had noticed my battery drop within approximately four hours of use. The representative I spoke to, while kind and professional, offered no other explanation than to reset SMC, PRAM, and check for outstanding (runaway) applications. (spoiler: there were none). I was asked what applications I run normally to which my reply included:
a) Google Chrome (approx. 3-4 tabs, usually including Docs and Gmail)
b) Pages and/or TextEdit
c) Endnote X5
There was no explanation given for this loss in battery life outside of the remote possibly that the discrete card is being triggered by one of the applications. I thought of this as well and checked System Information, my system remains on Intel HD3000 internal unless I am using G+ Hangouts (video/audio). Short of this example, there was no other option given. The machine showed a battery cycle count of approximately 147 cycles and health status of "Good."
I should note that the machine also runs 8GB of RAM and the stock 750GB HDD. There have been no other modifications to the machine than a RAM upgrade and brightness is between 40-60%. WiFi is always on yet Bluetooth is only utilized when I am at a desk (eg. plugged in to AC).
I am currently in the process of moving the bulk of my necessary work from the MBP and looking to procure a replacement simply because I haven't the time to deal with this. I have contacted Apple in earnest to resolve this issue with no lack of effort on my part in obtaining a resolution. Simply put: I believe that Lion either requires far more energy demands from the machine than Snow Leopard, the reporting of battery status has changed, or perhaps some mixture of both.
I believe this will be my last computer purchase from Apple for a while... The money I originally spent on this machine has not equaled the level of efficiency I am currently getting or expected to get after one year of use. I would happily have bought an extra battery if "fatigue" was the reason for this dropoff but alas the battery is built-in and unremoveable except by an AASP or Apple technicians, something I was assured would "last the life of the computer."
In my situation, financial cost is trumped by lost productivity so an inexpensive replacement with ample battery life will do for now until I decide how to handle this machine. Sending my MBP in to Apple (as many of you have claimed to have done) only to be told that there's nothing wrong with it is a lesson in frustration I am all too eager to avoid for now. Moreover, any loss in productivity represents an even greater loss to me than simply time spent without the machine.