Battery Life

Yeah, that doesn't sound right.  I'm assuming you have Bluetooth disabled as well.  Might you have anything running which is accessing the GPS?

Worst comes to it, maybe try bringing it back to the store and telling them something's wrong with the battery life.

These phones are notorious for their poor battery life. I have owned pocket pcs and PPC phones since they first came out. The Touch Pro 2 is doing great for me, compared to it's predecessors. But, I do have to charge it every night, unless I turn the radio off (Flight Mode). In flight mode, it lasts for days.

It does poll for GPS quite often to get weather & location etc. It also connects to the data network to get mail, weather etc. It also pings the towers as long as it's on.

So - if you can go a 12-16 hours on one charge, you're doing quite normal. This is decreased when you heavily use the device, use navigation, watch movies, play games etc.

The first thing you have to do is set the backlight to 30 percent when indoors.  I'm assuming you already did that, but just in case I added that.

The second thing is to always press the top button to put your phone to sleep when you're done using it.  Do not let it "time out".  (Those 30 seconds are draining your battery). The main drain on the battery is the screen backlight.  If you learn to maximize your backlight usage efficiently, your battery usage will skyrocket.

The 3rd thing is to put the task manager on the front of the screen with a quicklink.  Always terminate all tasks when not using.  Windows mobile tends to run programs while you're not using them any longer. 
-These 3 things will definitely give you a huge boost in batt life.  Cheers!