Had similar problem here, but think I've solved it this evening.
Mid 2010 MBP 15" - Prior to upgrade to ML, I would see about 6+ hours life. Since upgrading to ML, That dropped to about 3 hours with the machine running quite hot. Hard to tell from Activity Monitor what was going on, but Coconut Battery showed a power draw of 18-20w most of the time.
Tried fixing disk permissions and that seemd to do the trick but only briefly. As soon as I opened Mail.app, the old behaviour started again.
Took a look in the console and had loads of deny file-read entries from sandboxd.
Mail(2507) deny file-read-data /Library/Preferences/com.apple.mail.plist
Closed mail, and renamed this file:
sudo mv /Library/Preferences/com.apple.mail.plist /Library/Preferences/OLD.com.apple.mail.plist
Started mail and power draw has been around 8-11w for the last two hours running on battery, and still showing 79% (4h 52min) remaining. Machine nice and cool.
Suggest people run Console.app and see if anything similar is getting logged.
- barry