Pretty much a 2-day watch for me, including using the sleep tracking and about an hour of high intensity indoor workout during that two day cycle. It's about 10 or 15 percent at the end of 48 hours. The only exception to that has been the disaster where a rogue $2 charge from a spammy app that Apple attempted to levy off a lost credit card badly disrupted my entire iCloud, and three hours of trying to fix (among other things) the Watch's loss of pairing with my AirTags and reinstalling everything took about a third of the battery.
We'll see if that holds up once I start doing some outdoor workouts on it, though that's mostly outsourced to my Garmin Edge 530. My 5-year-old Garmin Vivoactive 3 on the same use pattern is more of a three or four-day watch. I don't think I'd dig the daily charging on the smaller Apple Watches.
Incidentally I think if you cut back on the notifications and some of the other goop you might be able to get a third day even without low power mode. And probably best to go "dark" on LTE in a marginal area.