Under Star -> Settings -> Phone -> Location
Disable it. (GPS for 911 will still turn on when placing an emergency call).
See if that makes a difference in battery life. You can always manually turn GPS back on when you need it, but seeing as how GPS is pretty useless now with the lag problem, might as well disable it.
Here's hoping thta solves the problem of the massive battery drain. That means it can be fixed with a firmware update.
Thanks to this thread for the suggestion:
http://forum.ppcgeeks.com/showthread.php?t=42375
-Ed