2 things I turned off on my phone were in the settings menu
iCloud->Documents & Settings-> Use Cellular (turned off) (other iCloud settings as follows Mail-off, Contacts-off, calandars, reminders, bookmarks ON, notes and photostream off, Documents and data se tto WIFI ONLY, find my iphone on.
Settings->General->Restrictions->turn restrictions on, then scroll down and turn off "Ping"
I had location based services on, however before I went to sleep I checked to see if any were being used and none were at the time.
Once I did that I noticed a slight increase in battery life. 2 things to note, if you use the itunes ping service, you wont be able to unless you turn Ping back on. Also, if iCloud is using an app such as pages to update a document, it wont sync until you connect to wifi. Before when I had these turned on I'd notice a significant drop in battery even when not using the phone.
I was going to post this response last night but figured I'd wait till morning to provide real numbers. Note this is for standby only and I live in an area with 5 bars. At 9:30 last night, I had 80% battery life. Its now 8:45 am and there was a 4% drop in battery to 76%. This is much closer to what I was getting on my iPhone 4. The previous evening I woke up with a 10% loss in battery life with those settings on. Personally, I think its the constant iCloud backup going on whenever you run compatible programs thats sucking the battery dry.
One last note, given I was home but I did NOT have wifi turned on. If I had, then iCloud would have been backing up documents, etc from my phone because that is how I have it set up. I did accidentally leave bluetooth on though and the phone wasnt connected to anything and still only had a 4% drop in battery life.
I know my post doesnt address battery issues when USING the phone, but for those of us who have had terrible standby numbers, hopefully this helps.