You know, after switching back to stock from CM7 I'm really not sure I'm not happier. With CM7 I was getting worse battery performance, which led me to start obsessing about wakelocks and deep sleep. Now that I am back on stock, I do the same analysis and see that I have the same problems with wakelocks and deep sleep-- but the battery performance is better so it's not that big a deal. I'm sure that there are things I could do to make CM7 have better battery performance-- but I wasn't enjoying the process and wasn't finding answers, so why bother?
It's like power management programs. I ran Green Power for a long time, and had some glitchy problems with being unable to get wifi to turn on even though it wasn't supposed to be managed while the screen was on. Then I disabled it, and you know what... my battery life was good enough to get me through the day. Froyo is good enough to get me through the day.