I've been using the EVO for a couple days now, and my battery life is ok. When I received the phone, it was at about 40-50% (I haven't downloaded any apps to show the actual percent). I used the phone for the first night to dran the battery down, then charged it overnight.
I haven't really changed much out of the box. I removed all the sprint widgets/shortcuts from the home screen (Sprint TV, NFL, NASCAR, etc), 4G & bluetooth off (I'm not in a 4G area), GPS & WIFI on. I've downloaded several apps (google voice, doubletwist, google earth, foursquare, bank of america, google sky map....etc).
Yesterday I took the phone off charger at 7:30 AM, did a bunch of web surfing, sent about 20 or so texts, used google navigation for the drive to/from work, sent & received about 20 emails, and the phone died sometime around 10 PM. I received the low battery warning around 7:30 PM, so it got a legit 12 hours of use. Not too bad.
As a point of comparison, I'm coming from an iPhone 3GS and the battery life is comparable. The iPhone is probably a little bit better if I'm totally honest.
Overall, my impression is that many of the battery life issues are being overblown. Well, maybe not overblown, but I don't know what people are doing to kill the battery so much. Regardless, perhaps the new versions of the phone are being better optimized by Sprint or something? Bottom line, the battery life seems to be acceptable for basic use.