I too have noticed the drain on my black 4s 64gb. I have had two that experienced the same problem but the replacement was as a result of the horribly yellowscreen. I didn't notice the battery life drain until really a good few days of solid use.
I've tried a lot of scenarios to see how to reproduce the issue or at least see what drains the battery the least. I've seen a lot of posts about location services and tweaking settings but what I've found is my real killer appears to be the mail app. Like everyone else my usage appears to be equal to my standby time when running in what I consinder my normal mode. But with the following test scenarios 've watched my usage start to shrink in comparison. All the tests I've run are in order of the longest life to the shortest life.
Factory Fresh (Clean Restore), No Apps, No Mail, WiFi to my AirPort, Connected to local AT&T cell, full charge: Stays at 100% during standby mode for a over 10 minutes, once it drops to 99 percent and I wake the phone to WiFi I lose about a 1% every 4-5 minutes of use.
Factory Fresh (Clean Restore), No Apps, No Mail, WiFi to my AirPort, Connected to home AT&T Microcell, full charge: Stays at 100% during standby mode for a over 10 minutes, once it drops to 99 percent and I wake the phone to WiFi I lose about a 1% about every 4 minutes of use. (MicroCell for some reason always causes me issues but it is my baseline)
Factory Fresh (Clean Restore), All my Apps Fresh, Exchange Mail, Notifications Off, WiFi to my AirPort, Connected to local AT&T cell, full charge: Stays at 100% during standby mode for about five minutes. Phone loses about 1% every three minutes
Factory Fresh (Clean Restore), All my Apps Fresh, Exchange Mail, Notifications On, WiFi on or off, Connected to local AT&T cell, full charge: Stays at 100% during standby mode for about a minute from unplug. Phone loses about 1% every two minutes
Factory Fresh (Clean Restore), iCloud Restore Apps, Exchange Mail, Notifications On or Off, WiFi on or off, Connected to local AT&T cell, full charge: Stays at 100% during standby mode for about a minute from unplug. Phone loses about 1% every two minutes
Factory Fresh (Clean Restore), iTunes Restore Apps, Exchange Mail, Notifications On or Off, WiFi On or Off, Connected to local AT&T cell, full charge: Stays at 100% during standby mode for about a minute from unplug. Phone loses about 1% every two minutes (No difference)
Factory Fresh (Clean Restore), iTunes Restore Apps, Exchange Mail, Notifications On or Off, WiFi On or Off, Connected to local AT&T cell, full charge: Stays at 100% during standby mode for about a minute from unplug. Phone loses about 1% every two minutes. Reset All Settings Performed. Charged to full from degraded state. All results same with loss of 1% about every two minutes.
Factory Fresh (Clean Restore), iTunes or iCloud Restore Apps, Exchange Mail, Notifications On or Off, WiFi On or Off, Connected to local AT&T cell or MicroCell, full charge: Stays at 100% during standby mode for about a minute from unplug. Phone loses about 1% every two minutes. Reset All Settings Performed. Charged to full from degraded state. Deleted Exchange Mail Account. Phone appears to run more like my 4s.
So my only conclusion is that there is something up with mail hogging cycles or dumping. I've even noticed mail running with no mail client configured or icloud account setup (using memory apps).
This must be a software problem. Hopefully it gets fixed soon.... while I know batteries can cycle many times I hate churning through a month worth of cycles in the less than two weeks I've had the phone.