OK.... I've been experiencing the same extreme battery loss as everyone else since 8.1.2 upgrade over weekend. My IPhone 4s was just fine until the upgrade. Since the battery did not have issues before, I don't believe the hype about 'get a new battery'.
BUT...I full-charged it to 100% at 1:05pm and it's more than 2 hours later and I'm still at 100%. I'm not using it (standby) but at least the battery charge is not dropping rapidly either. But, I had to turn a lot of features off to save the battery.
Turned off WiFi, bluetooth, cellular data, background app refresh and location services. I guess I'll just have to turn those back on if I need to use it. This is kind of a crappy alternative but at least it will be there when I need it. Being shackled to a cell phone charger or a totally dead phone is much worse....
Apple - Fix please your software....