After having lollipop for a couple days, the battery drain issue was a problem but seems to have settled down. I did have to uninstall and then re-install Google play services and Chrome. Those are the only 2 programs that were having a problem.
Battery still seems to drain faster than before update but is not a big decrease. I never did go through the headache of factory reset. Just restarted the phone over the first two days every few hours to help "clear itself out".
yesterday and today the phone seems to run fine. No noticed lag or glitches. The battery issue seems to be getting better each day as the operating system settles in.