I'm running 10.7.1, I did this newest test after 10.7.1 but to be perfectly honest I think the results have nothing to do with it, I felt improved battery life for some time and even in release notes for 10.7.1 there is no mention of battery fix.
Although my battery health (by iStat widget) went from 92% to 95% after installing 10.7.1. which is certainly interesting.
Battery held 4:16:30 hours.
Applications used:
iChat
Safari (news webs and 10 mins of youtube)
Mail
iCal
Microsoft Word
Vodafone Mobile Broadband
USB 3G modem plugged in.
_________
I used to have 2 hours max. I believe better results are due to the re-calibration as stated above. I didn't do it on purpose, but my Mac went out of juice several times past weeks.
I'm still thinking I used to have 5 hours+ with same applications running on Snow Leopard, now it's bit over 4. But at least it's not 2...
However my Mac is still heating more than it used to (quite warm right now with these apps) and mdworker is still working on 5-10% CPU all the time (right now using 2.38 GB of virtual memory 😝). I never managed to fix that in any other way but turning spotlight off.