OK, so I changed two things yesterday and my 4S is at 97% after a full charge last night before I went to bed and letting it sit there over night. Usage stats are also in line with that (10 minutes usage an 11 1/2 hours of standby). It has stayed at 97% for the last hour or so where before it would have gone down at least 5-7% and usage data would have shown much higher values.
The two things I changed:
- Disabled WiFi syncing in iTunes (connect phone, uncheck option on first tab)
- Per the instructions in this video (http://www.youtube.com/watch?v=1mwpRotYS78) set the DNS for my WiFi connection to 8.8.8.8 (Google DNS).
I don't know which of these changes made the difference, or if it's the combination of both. But I'm assuming WiFi sync at least something to do with it since I only turned on that option a week or so ago and the battery problems began shortly after that.
As always, YMMV. But for me this seems to have solved the battery drain issue.
Edit: Another thing I just noticed is that with WiFi sync disabled, it takes a couple of seconds after waking the phone for the 3G icon in the titlebar to change to the WiFi icon whereas with WiFi sync switched on the icon immediately changes to WiFi upon waking. I'm assuming this means that the phone is permanently on WiFi with WiFi sync turned on and also prevents the phone from sleeping. This could be either by design or a bug.