My battery has dropped 3% in 25 minutes and it has only been sat on my desk (whilst I setup my Apple profile to post on here).
I have both a 28 month old 3GS (which I use as a Touch) and a 4S and they are both setup the same (apart from the 3GS not having a SIM card and 3G disabled). I have done all the tweaks, battery conditioning etc and also a factory reset/restore this has improved my battery life in little BUT still my battery life on the 4S is utter poo!
I work from home so over the last couple of weeks I have had both devices on my desk comparing the battery drain between the two in standby mode and with normal usage. Obviously I can't compare taking calls but I don't actually make that many calls on my iPhone as I have a Blackberry for business and most people call me on that. I only use Wi-Fi in my house so there is no need to compare using 3G for downloading data either.
Conclusion: Battery life is far better on the 3GS running iOS5 than the 4S (especially in standby).
I will give you an example from my comparisons last week
11.00pm Sunday: Disconnect 3GS from charging (100% charge) and leave on my desk overnight
9.10am Monday: 3GS is at 92% (8% drop over night). I also top up my 4S battery charge
9.40am Monday: 4S is at 100% I reboot the phone so no apps are running and leave on my desk
I then use the 3GS during the day for light use - Facebook, Browsing, 15 minutes of YouTube, Sky News App
2.00pm Monday: Receive a phone call on my 4S for approx 2 - 3 minutes
7.20pm Monday: 3GS battery 72% - 4S battery 69%. The 4S battery has drained 31% in standby (apart from a 3 minute call) in just under 11 hours, and has less charge than the 3GS which has been running nearly 20 hours and has been used during the day.
11:00pm Monday: 4S is at 32% - I used it at the gym that evening for an hour (playing music) and then used it later that evening for light data use (Facebook and Zombie Farm), before going to bed.
I have had nearly 4 full days without having to charge my 28 month old 3GS running on iOS5 (mostly standby but with occasional use each day). I wonder how many people with reported battery problems get 36 hours on a 4S just running on standby.
The worrying thing is I have seen some press releases regarding the battery fix in iOS 5.0.1 and all that is mentioned so far is tweaks to how Location Services work. All these tweaks effect services which I have mostly disabled.
If that's all there fixing and if you factor in that some people are reporting no battery problems. There must be something else thrown into the mix possibly a faulty hardware batch.
For the record I am a systems engineer for a global software company. I spend my working day installing, configuring and troubleshooting software enterprise deployments. I have dealt with enough product issues with software over the years to know this battery life problem is not purely down to how Location Services work!
I may wipe the phone and set it up again as a new iPhone, but I am not holding my breath it will work and this seems to defeat the purpose of having a back up in the first place.
If Apple don't come clean or provide a definitive fix, I will be asking for a replacement / refund!