For me, 4.0 is giving the best battery life I think I've ever had on an iPhone. I thought for sure this thread would have been about how great it is on the beta. It's interesting how wide the opinion can vary.
Same for me. My battery life seems to be much better than previous versions. For example, today I took off charge around 8:40am and used it for about an hour of listening to music while browsing fluent news as well as some games. I still have about 90% battery life left and its 12pm(See attachement).
Thats seems like an improvement to me, don't know how others have experienced worse battery life.