I am experiencing this, too. Overall, the 4S seems to have poorer battery life than my trusty old 3GS. Over the last few days, I've turned off Bluetooth to see how that might affect things (though I've read the 4S is supposed to use a new standard that significantly improves Bluetooth power usage). Not much help.
This morning, after leaving it on the charger all night, I removed the cable and the charge read 94%.
One thing that occurs to me is that I am using Sync via WiFi, something I could not do before iOS5. When I booted iTunes this morning (before removing the power cable), I saw the iPhone do a sync. But it took about 60 seconds tops. Surely that would not knock 6% off the battery, even if it was unplugged!
I will try a full drain to "reset", but if both issues (poor battery performance and no full charge) continue, I will take it in.