Just an update:
I have finally sent it in for servicing. As far as the updates I am getting from the technician handling my case, the software tests they are doing are coming up negative. He has asked me permission to reformat my MacBook Air 5,2, which I have given. He suggests that some third party application may be causing the OS X to err in reporting the battery health or cause rapid discharge of my battery.
Although I can attest that when I am using the Air at its full capacity I can drain the battery rapidly (down to 1 hour of discharge time), I have done my tests with all the apps I installed quit (or killed). Since this may be part of the standard operating procedures for testing the MacBook Air, I have so granted permission to reformat (to my dismay). My data are backed up,
At the moment, I am just anxious to get it back. I am more productive on my own machine. I have borrowed a MacMini to do some work on, but its really a different beast. Also, I don't want to end up with my warranty lapsed only to find my battery truly faulty then.