Mine is much better now too. I avoided deleting everything and setting up as a new phone because it's a real pain with some apps, re-downloading so many books and losing personal docs with some apps.
I know I signed off wishing everyone good look and that mine was "good enough" to move on, but actually I think it is back to normal if not really close. Standby seems better than before.
I know battery seemed a huge drain right after upgrading for me, so I am not discounting anyone's experiences really. But because of the experiences I saw, and the improvements I saw applying almost everyone's suggestions here except for setting up as a new phone, I am wondering if most people are fixed now and we're just mad because there was no official update, statement or apology from Apple... My battery is as good as any two year old phone now, though sometimes it seems to drop faster unexplained and I wish for battery usage monitoring ability now....
My 2-3 week journey:
Started with the update. Battery didn't actually seem to start dropping fast until a day or two, or I didn't notice it until a couple of days in. This was also after a slew of app updates that seemed to come around the same time...
1. I reset my network settings, first thing after reading up. Sorta helped but not much.
2. Disabled many icloud features. Again, seemed to help slightly but big problem was still there.
3. Deleted iCloud, only re-enabled it with "find my iphone" because it seemed risky without it. Went through settings, ad-block, etc. and trimmed down everything I didn't use. Disabled location but when it didn't change turned location back on.
4. Deleted all bookmarks, cleaned out bookmarks on my mac and phone, re-enabled icloud Safari. Didn't notice any difference and still seemed to have a problem with safari and itunes.
5. Performed hard reset after a friend mentioned it solved his post-update issues. (hold down power and home button for a while, tapped both again when powered down). This seemed to help quite a bit.
6. Quit messing with it. Some suggested quit resetting everything every time it didn't seem to do anything, like maybe give it time to "settle down" with the new settings. Left things for a few days and it really seemed to get better and better.
A nice rep from Apple called asking if they could install battery monitoring software and wanted more info on the issue. They really care about this I think. I think it's OK now, maybe, but I'm gun-shy to say so after the past few weeks so I will happily let them monitor the battery to see if I'm out of the woods. Perception is reality, and I can see myself wanting better battery than I am getting, but trying to be objective, I know it seemed messed up for a while and now seems much better, and it could be back to normal...