I have an Aspire One that shipped with Linpus, and I put Ubuntu on it. I'm now getting 2 hours of battery life as well. So it's not just you, in case you were wondering :-)
I will PM you so maybe we can chat on MSN or something; I have a couple of things I want to try in order to get more battery life and I'll let you know how it goes. I also suspect the webcam might be turned on the whole while as well, so if I can find how to disable that, it would be a good start.
Anyone out there with Linpus still on their Aspire One: Could you do a uname -a and tell us if it's using "lpia" (Low Power Intel Architecture)? This may be part of the secret sauce that makes Linpus' battery life so long.