Does it? I guess after I checked the listed specs on Apple's website, it said "Up to 10 hours on Wi-Fi", and at that rate if I stayed on Wi-fi, I'd be good for about 8 hours. Maybe just because I expect it to be a do-all, be-perfect type of phone I expect the battery to last pforever.
From the two iPhones 4s I've used it seems about average. You have about 3 hours of standby and almost 2 hours of use so that's about normal I would say. Just like the poster above me said, it seems that some parts of the battery drain faster than the others. I would do a full charge and use it untill it's almost dead and see what numbers you get. I had 16 hours of standby and 6 hours 40 minutes of pretty heavy useage streaming music, watching videos, surfing, using gps, etc. If you get around those numbers with similar usage I would assume your good.