I have completed my two day long battery testing with Location ON and OFF.

Conditions:
- Screen brightness: manual, minimum brightness
- Screen goes off in 15 seconds
- Developer Mode Enabled

• Remote connection (SSH) enabled

- Installed apps:

• Tutorial
• Calculator
• Calendar
• Clock
• Notes
• Mail
• Media
• Maps
• Documents
• IP Address
• Speedtest.net (Android)
• The Weather Channel (Android)
• Yandex.store (Android)
• Amazon Appstore (Android)
• Mobogenie (Android)
• Firefox (Android)
• Dropbox (Android)
• Whatsapp (Android)
• Viber (Android)
• Skype (Android)
• Angry Birds Star Wars II (Android)
• Daylight World Map (Android)
• Terminal
• Sovjet Military Maps Free

- No apps running on background
- No apps running on foreground
- Messaging settings:

• GMail configured, checking mail every 30 minutes
• 1 IMAP mailbox configured, checking mail every 30 minutes
• 1 Twitter account configured

- Network

• Cellular: 3G, no data connection in use
• WiFi: connected to 802.11n network, 52-65 Mbps rate

- Location ON

Saturday November 30, 2013:
[time elapsed] [time of day] [battery level] [comments]
-0:01 13:24 battery 100 %, settings -> location -> ON, USB cable still plugged, GPS icon blinking
0:00 13:25 battery 100 %, test will start, unplugging USB cable
0:05 13:30 battery 100 %
0:18 13:43 battery 98 %
1:16 14:41 battery 91 %, GPS icon steady and not blinking anymore
3:29 16:54 battery 74 %
3:44 17:09 battery 72 %
4:34 17:59 battery 66 %
5:11 18:36 battery 61 %
6:26 19:51 battery 51 %
7:06 20:31 battery 46 %
7:48 21:13 battery 41 %
8:29 21:54 battery 36 %
8:38 22:03 battery 35 %
9:05 22:30 battery 31 %
9:19 22:44 battery 29 %, battery test ends

13:07 Projected battery charge level 0 %

Conditions changed
- Location OFF

-0:02 12:46 battery 100 %, Location -> OFF, USB cable still plugged, GPS icon not visible
0:00 12:48 battery 100 %, test will start, unplugging USB cable
0:41 13:29 battery 97 %
1:02 13:50 battery 96 %
1:46 14:34 battery 92 %
2:29 15:17 battery 89 %
2:44 15:32 battery 89 %
3:02 15:50 battery 87 %, poor response to double tapping. need to tap multiple times before response.
3:30 16:18 battery 85 %, clock does not stay in correct time
3:34 16:22 battery 84 %
4:13 17:01 battery 81 %
4:33 17:21 battery 80 %
5:04 17:52 battery 78 %
5:35 18:23 battery 75 %
5:53 18:41 battery 74 %
6:26 19:14 battery 71 %
7:39 20:27 battery 66 %
7:44 20:32 battery 66 %
8:44 21:32 battery 61 %
8:54 21:42 battery 60 %
9:55 22:43 battery 55 %
10:35 23:23 battery 52 %
10:50 23:38 battery 50 %

21:40 Projected battery charge level 0 %

Definitely something wrong with power management and with Location ON the GPS/GLONASS chip seems to be all the time on. With current battery performance I can't think of using this as my primary phone.