The GPS will likely only make a significant difference if you're using a program that requires it. I don't recall the program on my old Android, but it would suck a lot of power if you left the GPS on.
What I've observed since the Verizon update is that my standalone GPS is trying to find a signal non-stop. Used to if an app wanted to access my standalone GPS I noticed the indicator in the notifications area at the top, but only for a limited time. If it could not lock on to a signal after a period of time then it just stopped trying and tried again the next time the app needed to access it.
Ever since the Verizon update, I notice that the standalone GPS does not stop trying to lock on and when I review the battery stats, Google Services is using the majority of the batter.
Does anyone know how I can tell if a particular app is the actual problem that keeps trying to access the standalone GPS?