Some users have experienced improved battery life just by reinstalling the software once through iTunes
Some have improved battery life by shutting off a feature called "Setting Time Zone" buried within the location services menu of iPhone settings
Shutting down the power consuming GPS based applications can also be of help
Apple has not yet come up with an official word on the battery drain issue. But till then, custumers should be trying these sorts of little things to keep their battery for a longer periods.