I think everyone has different usage patterns so a single answer will not work for everyone. But I can share what I did to fix my Froyo battery problem.
Short Answer: turn off WiFi when not in use
Long Answer:
After upgrading to Froyo, I noticed significant battery drain even when phone was idle. When I was on Eclaire, I left my WiFi on all the time and set Sleep Policy to Never, as that was the recommendation. And on Eclair, that worked beautifully.
After upgrading however, I tracked down my battery drain to WiFi. It would not turn off when phone was idle.
I used Juice Plotter and Spare Parts to narrow down my problem.
Way I tested is I charged until full then took it off the charger and went to sleep. With WiFi on, my phone drained from 98% about 70% in one night (typically 7 hours). One time, it even went down to 30% (don't know what happened that night). On Eclair, it would drain about 1% per hour, so I would see 90 or 92% overnight.
Now with WiFi off, I'm averaging about 1% drop every 2 hours on idle. I drop from about 98% to 93 or 94% overnight.
Funny thing is, my brother has an Epic, and on Froyo, his WiFi does not consume battery. So something is wrong my with phone, or with Froyo.
So same setup - but on Eclair WiFi is fine, and Froyo, WiFi is draining. To test this theory, I Odined back to Eclair and confirmed my hypothesis.
So now I turn off WiFi when not in use, or use Battery Booster to automatically turn off WiFi when phone locks. Yesterday, I went 30+ hours and still had about 25% left with low to moderate use.
Spare Parts is a great app, and that was what ultimately help me track down my battery drain. I encourage everyone to install that and see what is eating up your battery.