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You can also use the Default Power Control Widget where it displays WiFi, Bluetooth, GPS, Sync and Auto-Brightness toggle switches.
As many others have pointed out too, GPS doesn't drain the battery too much, from what I have seen, the GPS receiver only flips on when you wake your phone (Usually an app kicks in to GPS locate you, then checks the GPS once in a while where you are at. Navigation uses it more heavily as it needs to update and navigate people more, but Maps and other apps can use it a little infrequently.
WiFi and Bluetooth, while not connected, will be actively searching for a WiFi access point or a Bluetooth device it should be pairing to, so that would be more battery intensive as it is reaching out for a signal than just passively receiving information.