I was having similar issues. The first day I got about 16 hours of battery life, but after installing apps, widgets, etc. I was barely getting 8 hours. I've since spent time playing with the settings to figure out how I can get back to 16+ hours of battery life. As others have suggested poor signal is a huge cause of battery loss, take advantage of Wifi where you can and turn off Mobile Network when you are connected to Wifi. I also found GPS to be sucking up quite a bit of power, in some cases apps can still use your cell signal to track your position. I went a step further and tried turning off autosync just to see what the difference would be, thinking I would have to manually refresh or sync emails. Sure enough after going to bed with 100% charge I woke up with about 98%. The weird thing I noticed was I still got emails, facebook notifications pushed to the phone, so I'm not entirely sure what the autosync actually does? The rest of the day I had moderate use (web, facebook, twitter, words with friends, a few calls, etc.) connected to Wifi majority of the time. The phone lasted all day and thru the next night. When I woke up it was down to about 10%. I realize I'm not going to get that kind of performance most of the time, but I think I found the settings that work for me and will optimize my battery performance.
My suggestion before you wipe is take a couple days, try playing with the display settings, turning things on and off, figure out what you need and what you can do without and see how it affects battery life.