Okay so I received my iPhone 4S from work three days ago. I spent a lot of time on the iPhone 4, 3GS, and 3G so I can say I've got enough experience to know what battery life SHOULD be like.
Day 1: I authenticate the phone and start putting all my apps on it. I keep the phone busy until it dies and kept it on a charger for roughly 24 hours.
Day 2: I bring the phone to work, and use it as normal. The battery dies before I leave work. From the time I leave home to the time I leave work is usually 9 hours. The battery died in roughly 7 hours of light to moderate use. I was aggrovated by this, but like anything, I do my research before I start complaining. I found this post and took in to consideration a lot of the advice given. I got home, and did a full backup of my phone, then a full factory reset. I left it on the charger for the remainder of the night.
Day 3: I get up and go through my normal routine. I used the phone to text a few people, and also installed WhatsApp to be able to text my ex-wife. The battery drains to 70% before 2 hours passes. I compared my phone to a co-workers phone who runs about the same time schedule as I do. He is still at 100% battery on his iPhone4. I noticed also that with the phones side by side, he gets a 3G signal and I don't. In fact, my phone struggles to keep a 3G signal where his phone keeps connected all the time. I figure since the phone is bone stock except for WhatsApp, that WhatsApp is the problem. I did a little more research and saw some people with the same problem relating it to WhatsApp, so I removed it. Back to bone stock again, I notice the battery is still dropping tramendously fast. At 64% I again pull up this thread and check for further updates on this issue. I saw several posts saying that we can't disable 3G and use EDGE. This is true. I read further seeing people say that if you turn off the data usage all together, the battery life improves tramendously. I've got WIFI at work, so I gave that a shot. 2 hours in to having a WIFI only data connection, my battery life is now 63%. That is a HUGE difference in power consumption and there is CLEARLY a problem with the new radio chips.
If you ask me, we need to start a petition to get Apple to focus on fixing this issue. If a recall or repair for every phone sold is the only solution, big deal. They sold us bad product. I'd much rather go back to an iPhone4 or 3GS than continue to use this.