Apple have just released the iOS 5.0.1 update to fix the battery life problems – hurray!
iOS 5.0.1 Software Update
This update contains improvements and other bug fixes, including:
• Fixes bugs affecting battery life
• Adds Multitasking Gestures for original iPad
• Resolves bugs with Documents in the Cloud
• Improves voice recognition for Australian users using dictation
Products compatible with this software update:
• iPhone 4S
• iPhone 4
• iPhone 3GS
• iPad 2
• iPod touch (4th generation)
• iPod touch (3rd generation)
My iPhone 4S is downloading the update right now!