Just a quick update... I reset my watch, enabled Samsung Pay, and downloaded the black onyx watch face and see only 1-2% loss per hour. I noticed that Wi-Fi was on auto, so I didn't change that. I turned on location services, but didn't download Here We Go yet. Even running sleep as android only maxed out at 2% per hour when actively monitoring sleep.
I just restored my backup and going to adjust settings and apps to see what was causing the issue. One thing I've learned is that the usage on the Gear app seems to miss usage by third party apps. I have 2% used by music and no reference to sleep as android despite never using music and having sleep as android running 8 our so hours and about doubling the drain overnight.