I have an earlier Hotshot, so my experience wouldn't be directly comparable. I find I have to recharge about once a week during peak (winter EST) season. That amounts to about 8-10 hours of life. The pulse rate does not seem to make much of a difference, although I use one mode almost exclusively. I tried a fast pulse for a week and got roughly the same life, so I don't overthink it, and just recharge once a week.
I choose flash mode based on what I find least obnoxious - a slow double pulse.
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"I had a great ride this morning, except for that part about winding up at work."
Bikes so far: 2011 Felt Z85,
80's Raleigh Sovereign (USA),
91 Bianchi Peregrine,
91 Austro-Daimler Pathfinder,
90's Trek 730 Multitrack, STOLEN:
80 Schwinn Voyageur (Japan)