For those of you still experiencing shorter battery life, I recommend the following:
1.) Re-calibrate your battery. This is done by exhausting the battery completely, then recharging it until it once again has a full charge. Full re-calibrating procedure can be found here .
2.) If re-calibrating the battery doesn't resolve the issue, go to Applications > Utilities > Activity Monitor. In the drop down menu near the top of the window, select "All Processes". From the individual columns of data, select the column title "% CPU" (this organizes your computer processes/activities based on the CPU demand of each application). Check for any unusual CPU usage.
For me, it was the dock, which for some reason was taking up 100% of my CPU, thereby shortening my battery life to roughly 2 hours. For anything, taking up an unusual amount of CPU processing, simply close the application. However, resetting something like the dock may require the use of command lines in Terminal. If you're not comfortable using Terminal, schedule a Genius Bar appointment at your nearest Apple Store to have a certified technician fix the problem for you.
In addition, due to Mac OS X Lion's "Resume" feature, some of the applications you had running when you last shut down your device may have resumed at startup, thereby taxing battery life. When shutting down, uncheck the box labeled "Reopen windows when logging back in" or just be sure to properly quit out of all your open applications before shutting down your computer.
Hope this helps...