Alright, so my first iPhone 4S WITH C3 serial number had battery issues. Not so much with phantom usage, but with the battery draining too fast when in use. Called Apple and got a replacement phone which happened to be another C3 serial numbered iPhone 4S.
Now this new 4S has been giving me EXCELLENT battery life. It was having drain issues on iOS 5.0, but when I upgraded to iOS 5.0.1 (A405), battery issues were gone. I am a heavy iPhone user and do a lot of calls, texts and internet browsing. My last iPhone 4 could NOT last my entire work shift of 9 hours. I would use it for about 4 hours and would have to put it on charge. This new iPhone 4S not only lasted me the ENTIRE shift, but still had 38% battery life while leaving my shift. So I must say, I'm VERY impressed. I will be updating it to Built A406 in a bit. To my belief, this is a combined problem of hardware and software issues. But I'm leaning more towards HARDWARE issues.
My Stats:
7 hours & 15 min of Usage
15 hours of Standby
Location ON when needed
No iCloud
Siri ON with Raise to Speak OFF
Set Date and Time ON
Wifi on ALL THE TIME
Notifications ALL ON
I can confirm this is a hardware issues because I signed up for a new plan with Sprint two weeks ago and got a 4S for me and my fiancee. I had a black 4S and she had a white 4S. Used it for few days, hated the slow data speeds, and the battery life was just HORRIBLE. Staying on 5.0 did not have good battery life, 5.0.1 did not make a difference (Neither builts), and being on iOS 5.1 beta 2 or 3 didn't make a difference either. I took both phones to Sprint and the performed a deep diagnosis of the devices. After the diagnosis, they said both of the phones had FAULTY BATTERIES.
So I believe this a lot of the phones have bad/faulty battery issues.