The LED notification light will not chew the battery to the extent you described. Go for a factory reset. It should clear the issue.
So, I was JUST coming back to give everyone an update on this.
Yesterday at about 10:15 PST I had 71% battery life left, after having taken it off the charger at 05:00 PST Tuesday morning.
The ONLY thing I have done is as I described, I turned ON the notifications in the Settings>Accessibility>Notification area. It appears that notification light is function as it was before, blinking when there is say new messages, emails, etc., even though previously it was doing this and the notification settings were turned OFF. So, it's ON now and still doing the blinking (and I should say even though I actually UNCHECKED ALL on the applications list, so technically it should NOT be doing notifications at all)
Well, that was 23:30 HOURS AGO, and I still have 32% battery life. Power savings says it should run another 8:00 hours, which would put the run time at 36 hours easy, and that is after having had it run down to 70% yesterday morning in 5 hours, so I think starting at 100% it should now run even better.
This is the ONLY thing I did to the device and usage patterns, locations are the same (home, work, 3rd place), and usage is probably higher actually since I used GPS and had to connect to several new WIFI yesterday.
So, I really think SOMETHING is going on there. Another question for the group, when YOU go into that area of accessbility>notifications and then click on the LED NOTIFICATIONS button, does it take a LONG time to get to that final page? For me, after I click on the NOTIFICATION REMINDER selection, the screen goes black and it takes about 5-7 seconds to get to the actual LED notifications page?
Now, I haven't turned it off yet again, which I will try next, but if ANYONE is having battery problems currently, maybe try there first. See if it is ON, if it is OFF turn it ON..maybe switch back and forth. This really has dramatically changed the experience for my unit at least.
Oh, one more question. Is there someplace where it now say how long it has been running, or does one just have to do the math from the DATE/TIME on the left side of the graph to NOW?