There are two things consider when talking about battery life. There is the standby time and the "talk time" or heavy use time.
I've been testing the new Froyo kernels, and the conclusion I've come to is that they will all perform the same when it comes to standby time, unless they screw something up. There is a theoretical maximum battery life your hardware can have. That is because the hardware needs a minimum amount of current to just be on. No kernel/rom can change that. What they can change is how much of the resources they use and how often. Exclusively scanning for wifi AP's, or checking the sensors, polling the CPU, ...etc. all reduce your battery life without even getting into the effects of the apps you install. From what I've seen, the new kernels have worked out the bugs. ALL things being equal, they will all give about the same battery life. About 100-120 hours of standby time.
But that is the standby time with nothing installed or running. Most people like to actually use their phones. That is when the effects of the rom and apps you install take effect. Once you start installing apps that run in the background, (even juicedefender), you'll start to see that standby time decrease.
The heavy use time varies wildly based on your habits and the apps you use. The rom has little to no effect if the bloatware is removed.