My battery life was a bit pitiful after the GB update. After freezing everything I could in Titanium Backup, re-calibrating the battery, and uninstalling/reinstalling some power management apps, I was at a bit of a loss. My battery life was still sub-par; I used to get at least a full day out of my extended battery, but now I was averaging 35-40% by the end of an average work day.
Through all of this, I'd been noticing my launcher (ADW pro) was re-drawing constantly. Annoying, but didn't seem like a major power drainer. Out of boredom and curiosity, I switched over to GO Launcher... and have since seen a dramatic improvement in battery life. Also, I find that GO Launcher is prettier, smoother and has more interesting themes. No more constant re-drawing, homescreen navigation feels a lot faster, and GO Launcher has some other fun features too.
If anyone else out there is having woes with battery life, and are using ADW, give GO a try. Back up your settings first so that you can revert if there's no perceivable change.