Personally, I am completely ready to factory reset and go if I have to, but it takes me about two hours at least (depending on the speed of my network connection and whether I am near a computer I can connect to to restore my data to storage) to restore my phone from a factory reset, and then another 45 minutes or so to encrypt the phone. So, I don't do it lightly myself. If my phone were draining completely in less than 12 hours, I definitely would. Right now I end an 18 to 20 hour day at 20% or so instead of 40% or so, which works for me.
Google cannot make the restore process easier fast enough. They are so far behind Apple with this so far, at least on KitKat. The fact that everything in your settings is not restored is absolutely ridiculous. (For example, phone ringtone, notification ringtone, default keyboard settings, accounts settings, and Bluetooth pairings are not, but wallpaper, display timeout, and WiFi devices are.)