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I believe the battery icon doesn't move until it dips below 20%. If you go to settings>application>Battery Use you'll see an in dept look at the power use of the device with a pretty graph displaying power consumption over time.
I find with my device it uses 10% energy for 40 minutes of casual interested use (not trying to play flash or downloading to much). I have the screen set to low and it's in silence. However, battery life can very what your doing online and what browser you are using (me opera mobile). lookout may very well have somehow reduce the negative consequence of a bug eating away at battery life but who knows. I've haven't really notice any weird reporting of battery life.
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