Well, you are wrong, it is not the iOS 5 update. If it were, everyone would have the problem. If you search the forum you will find that EVERY RELEASE over the past 4 years has been associated with battery problems for some users, and also between releases (see below). The problem is that something was corrupted during the update. Your choices are to dump the phone or figure out what was corrupted and fix it. There's nothing that Apple or anyone else can do to help you, because the problem is with your phone specifically, not the release, not the model, not with all (or even a large number) iPhones.
Battery problems are not new:
Battery Meter/Life Problems with 4.0.2
4.0.2 guzzling my battery. Your's too?
4.0.1 battery life
Battery runs out very quicky in iOS 4.0.1
Battery nearly nonexistant after 4.0 upgrade
Dead battery after few hours on standby using 4.0 software
3.1.3 battery problem
OS 3.1.3 battery issues
3.1.3 upgrade - shortened battery life?
Battery life cut after 3.1.3 update on iPhone 3G
3.1.3 Firmware is a battery killer - how do I back out this upgrade?
Poor battery life with iPhone 3G running 3.1.2
3.1.2 EXTREME battery drain - what gives?
3.1 Battery nightmare
iPhone 3GS with fw 3.1 – battery life gets even worse
Battery Issues with 3.0.1
BATTERY drain with 3.0
upgrade to 3.0 drains my battery
Battery Drain after Update 2.2.1
Battery Life Radically Decreased after 2.2.1 Firmware Update