Originally Posted by Hadron
Number of wakelocks is part of the story. The time awake is the key. In the last 10.5 hours my Android System has had 1441 wakelocks, has woken the phone 168 times, and kept it awake for less than 4 minutes. Google Services has had 336 wakelicks & woken it 96 times, but kept it awake for 7 seconds. When things went bad for me Google Play Services had actually kept it awake for 10.5 hours!
Like Hadron said, waking up is one thing, but keeping awake is the kicker.
Waking the phone up for a couple of milliseconds could be something as simple as making sure your calendar is up to date and your contacts are synced. It's really when your phone is being held awake that the battery starts to get zapped.