If this helps even one person, I guess it is worth it.
After attempting all kinds of 'fixes', including hard resets, different variations on settings, etc, I finally fixed the battery drain issue on my watch... FOR NOW.
A simple reset of the watch through the Settings->General->Reset seems to have solved the problem. Now, it is possible to create a backup prior to reset, using the Galaxy Wearable app on your phone. While I made a backup, I opted NOT TO upload this to the watch after reset, fearing some setting(s) saved in the backup would cause the battery to uncontrollably drain once again. Outside of downloading watch faces again and customizing button orders, etc, it's really not that painful... It is definitely worth if it, given it permanently fixes the battery problem.
For now (72hrs), my battery has returned to its status quo. As mentioned, it may be a specific setting, or group of settings, that triggers the battery drain to start up again. I'll be sure to update if this occurs. Otherwise, it worked!