The battery is long-lasting, man! Playback mode is 300+ mins while record mode is around 180 mins. And the battery life indicator is rather accurate. I can use my battery up to the very last minute indicated. The only gripe is recharging, takes 2.5 hrs as documented.
DIGIC chip not only conserves battery, it also enhances the image realism, and I can vouch for that. I was using S40, the battery life sucks and the image isn't as good. But after buying the S45, I am impressed. The battery life is so much better and the images are breathtaking. If Canon were to come up with a cam with similar specs as F828, I would buy it immediately!