This is a place where common sense should prevail. If you something something that uses juice then yes your battery will run down faster. What I'm doing is turning off what I don't use. I certainly don't need a time zone search so it's off. There's other things in the system settings I also keep off, but if something is useful and has value, it gets turned on. There's no sense in having a phone of this caliber if I don't use what I want or need to use.
I unplugged my phone from the charger last night and have not done anything with it since. In 11 hours I used 4% of my juice on strict standby.I'm sure it'll drain like the gas tank in a rusty Ford as I use it during the day, but even that has slowed down somewhat since deactivating the time zone setting. Meanwhile I follow the recommendation of plugging it in when I can. One of the things I hated about my Droid was it's high usage of juice compounded by the short general life of the battery. After about 16 months I found myself on my 3rd battery with the droid. One the other hand after 9 months of using my iPad Classic, the battery seems to be as good as the day I bought it. I guess if I get desperate for more battery life for my phone, I can always get a extended battery case for it.