I wiped and reinstalled the 4gm jailbroken a couple of days ago after having horrible battery life. Now, the battery life is great. In fact I'd say it's better than 3.1.2
I'd say to those having bad battery life, think about restoring again, it may help.
I went from 3.1.2 on a jailbroken iPod Touch (3rd gen) to the iOS 4 GM using the restore method. My battery life is ABSOLUTELY HORRIBLE unless I put it in airplane mode, thus shutting off the wifi. If I do that, it's fine. If I don't, the battery will completely drain in a matter of hours.