I have completed numerous battery tests on both my 4G 40GB iPod and newer 5G 60GB iPod. Apple rated the 4G at 12 hours while they rate the 5G at 20 hours, both for audio playback. I used randomized playlists for these tests in which all the files were at the same bitrates/settings. I tested the iTunes mpeg-4 AAC encoder (QuickTime 7) and Lame 3.87b2. I made a playlist for 128kbps VBR mpeg-4 AAC, -V 5 --vbr-new, 128kbps CBR mpeg-4 AAC, 128kbps CBR mp3, -V 4 --vbr-new, 160kbps CBR mp3, -V 2 --vbr-new, 192kbps CBR mp3/mpeg-4 AAC.
Here are the results for my 4G iPod:
128kbps CBR mpeg-4 AAC 13.5 hours
128kbps VBR mpeg-4 AAC 13.47 hours
128kbps CBR mp3 13.44 hours
-V 5 --vbr-new 13.4 hours
160kbps CBR mp3 13 hours
-V 2 --vbr-new 12.5 hours
192kbps CBR mp3/mpeg-4 AAC 12.7 hours
Both the 192kbps CBR mpeg-4 AAC and mp3 formats lasted the same time on my 4G.
The following are the results for my 5G iPod:
128kbps CBR mpeg-4 AAC 23 hours
128kbps VBR mpeg-4 AAC 23 hours
128kbps CBR mp3 22.78 hours
-V 5 --vbr-new 23.1 hours
160kbps CBR mp3 22.8 hours
-V 2 --vbr-new 21.6 hours
192kbps CBR mp3/mpeg-4 AAC 21.7 hours
So, from my tests on my two iPods, there really is not a significant difference in battery life when comparing VBR bitrates to their CBR counterparts. I received the longest battery life when using the mpeg-4 AAC format at the 128kbps CBR and VBR bitrates. As for mpeg-4 AAC needing more cpu power, I feal that this is incorrect. If anything, mpeg-4 AAC requires less cpu power on both the iPod and when running a cpu clocking program on my PC when playing back mpeg-4 AAC and mp3's. However, a 300kbps VBR mp3 will require more cpu power than a 32kbps CBR mp3 simply because of the large bitrate differences.
This is why the 4G and 3G iPods sometimes skip when playing back --alt-preset standard (-V 2 --vbr-new) mp3's. The cpu implements power sving techniques. When the bitrate of a song drastically jumps from 128kbps to 256 or 320kbps, the cpu must increase its processing power. The 3G and 4G iPods sometimes have a hard time with this increase and processing power so a slight pause is heard in the track even though it is not in the source mp3. Believe me, I have had a lot of experience with iPods and am a resident helper over at a iPod specific website and its forums.
I can't speak for other DAPs as I haven't had any epxerience with them. I can only state what I have worked with: 4G 40GB iPod, 5G 60GB iPod, and a couple Windows powered PDA's.