Holy cow, I wrote a book!
The powercfg utility has been around for a while, but in Windows 7, it gained a little bit more awesome.
powercfg
powercfg /energy will analyze your computer's power consumption and report on things like devices that prevent the computer from sleeping, devices which won't suspend, and processes which are increasing your battery drain.
powercfg /energy
Another neat flag is powercfg /requests which will report on why your computer can't go to sleep, for example, because it has open files on the network, or because the clown will eat it.
powercfg /requests