I'm beginning more and more to think that the issue is from the computer running on the discrete GPU even though gfxcardstatus says I'm on the integrated GPU. My battery life is pretty much in line with what it was on SL while running on discrete GPU.
I've noticed the same thing. I confirmed it by using iStat to monitor the gpu power. It seems that sometimes it doesn't switch back to integrated graphics correctly after using the discrete card.