I'm seeing a big dip in battery performance on watch OS3 too. Not quite as drastic as some of the reports here but disappointing nonetheless. Having installed OS3 almost a week ago I don't think blame can be attributed to indexing etc as it's had plenty of time to settle down.
Before I would wear the watch from 6 am til 10 pm and often see 40% approx. left. So it was only losing 3.75% approx. an hour. I don't use workouts or anything. Mainly look at the notifications and used the music glance occasionally.
Now it's dropping about 5 - 6% each hour with the exact same usage habits. So that basically in the same time period 6 am til 10 pm it is down to single figures in battery percentage remaining. It's just as well I don't use any of the fitness features like workout or else the watch I'm sure wouldn't even get me through my working day.
Pretty disappointed. I understand things change but OS 3 has been a backwards step for me. Weakened battery life, loss of glances (I used to like the Music glance).
Thanks,
Wayne