While I'm still waiting for LTE where I live, I have spent some time in LTE areas to get a bit of a feel as to how it affects battery life.
First time was one week back in April around Jacksonville, FL. The phone had original software (pre MR1) and there was a definite increase in battery drain versus a 3G area, even while the phone was in standby.
The second time was only a few hours in Montgomery in early June with the MR1 update and the battery seemed to drain pretty quick in that short duration.
Third time was one week in mid June around Denver, CO. This time the phone had the leaked MR2 update from June 10 and I really didn't see any difference in battery drain. Also not a single random reboot the entire time in Denver or while driving there and back.
Finally, yesterday, I spent 3 hours in Montgomery testing the official MR2 update and battery life was excellent! I used a standard battery and got a little over 8 total hours, 3 of which were heavy use while in Montgomery.
By all appearances, it appears the MR2 update has improved battery life whether in LTE or 3G. Enough so that once my area gets it I don't plan on disabling it at all. In the end, I think it?s going to be more about how much you use the phone and not so much about whether LTE is on or off. In LTE, you?re probably much more likely to use it! Right?
Regardless, a few extra batteries (one the extended) and a Seidio Multi Function Battery Charger and you always have a charged battery at the ready!