4 and 1/2 hours is pretty poor to get by 1%. It is pretty far out of normal than I or most users get (7hours).
What are you doing with your phone? Not all activities consume the same power. GPS, camera, LED on is by far the worst.
Having the screen-on itself is just like browsing the web...for any OS or phone (I learned this with non-smartphones) the screen consumes power. I make sure to have screen Auto-Lock on to 1 - 2 minutes, tops, and lock my screen when I'm finished with the phone. No password needed. Having the screen on while you read or flip around...it is normal to watch the meter deplete in front of your eyes...you are using a bit of power there.
Some examples 'usage' time for a fully charged phone:
8 hours of ONLY 3G talk time
6 hours of ONLY internet on 3G; 9 Hours on Wifi
40 hours of ONLY music (ipod), assuming the screen is off
3.5 hours of ONLY camera or video recording.
2-3 hours of ONLY GPS usage.
2 hours of ONLY LED on (like flashlight)
4 hours of ONLY Facetime.
4 hours of ONLY playing a 3D game.
10 hours of video playback (7 hrs of youtube playback)
What you actually get is a mixture of these, with 7 hours being a good average (for most people) before you deplete the battery. Even with davidch's fix, I think there are still some problems, but davidch's got me back to a normal range.
So if you are still getting only 4.5 hours with your 2nd phone, I'm curious as to what you are doing with your phone? For example someone only using it as an iPod will have larger usage time ( 15 hours or more), but someone making videos all day with get just a few hours.
I have all notifications set on manual, screen at 50% on brightness with auto brightness on. Screen lock on after 1 min, wifi off unless I'm in a wifi area, I'm pretty much at bare minimum on e erything. Location services all off except for find my phone. On my first phone after the 5.0.1 update I went from fully charged to dead in about 4 1/2 hrs regardless of usage. I have yet to get 7 hrs of usage out of the two iPhones that I have had in the last month or so. Im open to anything that would help. I'm not really to keen on getting 5.0.1 just yet.