Try shutting down WIFI and GPS when not used. My M721 tablet lasts a good 9-10 hours when playing music from the SD card, reading a book, and a little light (~1 hour) browsing over WIFI.
Android has real multitasking, having extra apps running in the background usually does not degrade battery life, only if those apps are streaming WIFI, 3G, or GPS connections.
RE: Try shutting down WIFI and GPS when not used
I don’t keep those on. I shut them off and several times a day force quit all apps.
Its my understanding that GPS is only used when, well, its being used. IOW, unlike wifi its not sucking juice all the time, just when you're using an app that is using gps. So GPS actually gets a bad rap for battery use.