FIXED!!!
In addition to the other things I previously mentioned:
Turned OFF Wifi (Settings>Wi-Fi>Off)
Turned OFF Dynamic Wallpaper (Settings>Wallpapers & Brightness>Choose a wallpaper from the Stills collection)
Turned ON Reduce Motion (Settings>General>Accessibility>Reduce Motion>set to ON)
Turned OFF Background App Refresh (Settings>General>Background App Refresh>Off)
Turned OFF Location Services (Settings>General>Privacy>Location Services>Off)
Manually kill all running apps frequently (Double tap HOME button, swipe running apps UP to close)
Set screen brightness very low (Settings>Wallpapers & Brightness>set slider about 50-60%, make sure Auto-Brightness is ON)
I found that disabling Mail Fetch stopped the ridiculous battery drain.
Settings>Mail, Contacts, Calendars>Fetch New Data>Push ->set to disabled
Now my iPhone 5 has about the same battery life as I experienced before the upgrade. I can still go into Mail and it will update just fine like before.
Hopefully this helps. I'm hoping this is just temporary and Apple fixes this with 7.0.1.