However, the actual cure for the issue was to unpair the watch from the iPhone. After doing this, I made an effort to listen to music for several hours at work, use it as a remote (SimpleControl) for most of the night, and to tax it is more than I would do in a typical day. I put the watch on my wrist at 8AM and took it off after 12AM (that night). I still had over 40 percent battery left.
My suggestion if you are having battery issues to start by unpairing your watch and then re-pairing it again with the iPhone. For me, this cleared up all my problems without removing a bunch of useful features.