Bigger screen, higher resolution, more powerful processor so would expect it to use more, although will depend on backlighting levels too. Mind you the htc butterfly seems to do better than the One X.
He's doing well though seen people saying they get three and a half hours on N4
Naa an arm is an arm processor and even though if they manage quad cores it would not be giant power sucker. Although I concede with you to the screen factor consider that it is an IPS display it would consume less power. Correct me if I am wrong though