IF you turn 3G off you will get better battery lifetime, for sure! That is why Apple decided to get it back in 5.1. They are no fool!
But that doesn't mean that the problem is fixed...someone already made a (great) comparison in this topic with a broken arm: You're in pain...you take pain killers and make the pain go away...but, until you get surgery, the broken arm will remain broken. You eliminate the symptoms, but the cause of the problem is still there!
The problem here is that no one knows for sure if there's in fact a hardware problem with the phones...
I hope that all of these battery drain issues are software related and the 5.1 will solve the vast majority of the problems (we know that other problems always show up, but that's something we'll have to live with)...
BUT we'll never be sure, unless Apple steps up...(and we all know that isn't going to happen).
The losses would be massive.
I see the delay as a good thing, or at least, I try to. Apple has always been silent about releasing updates, and this would be no different.
So, I'm inclined to believe that the engineers are working hard to try and solve the issues. They know that competition is fierce! And it's close, more than ever! They can't afford to miss! The iOS 5 alone has multiple variables concerning it's use...now, join that with the "Person" variable.
This can't be a "Simple" process...this is, in my opinion, the reason for the delay...or I wish it is!
Just trying to think rationally instead of emotionally...