Probably too soon to tell, but my iPhone 4 seems to have magically fixed itself. I downgraded to 7.0.0 which improved it, but battery drain was still higher than normal. By accident though I put 7.0.2 back on because I accidentally clicked to install it in iTunes. When 7.0.2 went back on, the battery drain was back to horrendous again - approximately 25% per hour just on standby. I have tried everything, background updating off, turned cellular access off for most apps, turned off notifications & push email etc, but no matter what I did, it was still draining at the same speed. Curiously, it didn't seem to matter whether I was using the phone or not, it still drained at the same speed. Anyway, today at work, this morning it was draining fast as per normal, put it on the charger at lunch time, and I don't think I did anything different to what I did all last week, but when I took it off the charger at the end of lunchtime, it seemed to stop draining fast. I looked at it about an hour after lunch expecting it to say 75%, and it still said 100%. After 4 hours when I went home from work it had only dropped to 96%. It's now 12 hours later, and I've given it light use since work finished, and it's only down to 80%. This is what it was like with IOS 6 :-)
I've also noticed that the phone now feels cool, while I was having the rapid discharge problem it always felt warm to touch. I hope it stays fixed. I just wish I knew what changed so I could offer assistance to all the others who are still having the discharge problem, including my wife with her 4s.