I just got my Gear Live on Wednesday and so far my battery life is as I expected with my usage. I wish there were battery stats for the watch itself that we could access to make it easier to tell if a particular app is eating more battery than it should.
This is my usage from today:
Always on: off, brightness: 1, steps: on
Sleep tracking from watch (Sleep as Android beta) from ~12:20 - 6:30 am (watch muted)
Probably ~40 notifications, reset watch (apparently if you're using MultiRom and boot into another rom you can't pair it without resetting), installed some apps, checked heart rate 3 times, checked time/weather/steps/traffic/notifications probably 30 times. I noticed it was showing nav cards during my 1 hour drive this morning. I muted Maps after that.
12 am 100%
6:30 am 68%
3 pm 20%
4 pm 17%
5:30 pm 7%
6:30 pm 2%