The reason I can only get an hour and 15 minutes (on average) out of my battery is my wireless network connection.  Even if I'm not connecting to a network, the thing is constantly soaking up power in the ongoing search for unsecured access points.

Turn off the wireless network (little switch near the screen hinge) and turn down the screen brightness slightly and now my battery life advertises 3 hours and 30 minutes.  I haven't tested it to see how close to that I actually get, but this, combined with the Max Battery power scheme, will get me all I want from this little guy.  It takes less than a minute for the network to come alive and connect to my wireless AP if I flick the switch on, so some judicious manual intervention here when I'm not intending to spend hours surfing the web will really extend the battery life.

-- Matt Ranlett