The estimate can fluctuate depending on load and/or display brightness. It is fairly responsive, so if you see a low estimate, just to just let it idle for a few (close any apps which are using a lot of resources too). You should see a noticeable increase in the time estimate (assuming around 60% display brightness).
Also, as mentioned, actually run it for a few hours (using some light surfing and possibly some text writing; get mail once in a while, etc. After running a few hrs, you should be able to extrapolate a maximum run time.