I'm using a T500 (Machine type: 2055) which is almost brand new and it has switchable graphics. I've noticed that my battery is draining too quickly. I know this because I have owned other Thinkpads before (T60, T61p, R61, etc.). I have a 9-cell battery in currently with 80.10Wh at full capacity and I don't get more than 2.5 hours out of one full charge.
I had this same 9-cell battery in my older T60 and I was easily able to pull 6 hours of battery life. I have my power manager set to 'Optimized' and dimmed the screen almost all the way.
My system also heats up noticeably after booting up.
What could I be missing here? I'm running Windows 7 Pro.
It is possible that there could be a runaway process running in the background of your system that uses your CPU all the time, or an unwarranted system activity.
As your machine has discrete graphic card and intel graphic card, it could be a problem with your Switchable Graphics driver.