It seems inconsistent. When setting up and restoring via my iCloud backup, the battery was literally draining before my eyes. The back of the phone got extremely hot. It went from 95% to 60% in about 25 minutes. This morning, with it being on charge all night, it went from 100% to 97% in about 8mins, but then stayed there. Last night I was using it with the TomTom UK satnav app in my car. On my old 3GS this would drain the battery fast, and the phone would be scorching afterwards. On the 5 it dropped about 3% in half an hour and was barely warm. I think it's the wifi circuits. When the phone was updating or being first used in the morning and checking emails etc the battery drains quickly. On 3G it's a lot less drain. Turning off lift to activate for Siri slowed down the drain quite a bit.
Basically, the wifi power management appears problematic at the moment. I'm now sending usage stats and diagnostic data to Apple - the only way this will get fixed is if it gets noticed by Apple and I think they'll be scrutinising iPhone 5 data closely over the next few weeks.