To the Hijacker
I just use adobe Premiere Pro for most of my editing, In this I can very easily scrub through my raw footage and with 2 clicks select where I want to start (in) and end (out) points, then put this into my timeline. Its pretty simple, I found at first when I used to keep stopping and starting recording most of my clips were a bit too short and didn't leave much room for transitions, this continuous way I record lots of crap but never miss anything interesting that comes out of the blue literally.
You can also cut up your clips using GoPro cineform in a similar way by selecting in and out points for the clip and then add to conversion list. These clips in the conversion list will all be cut to where your in and out points were so just go through the entire file selecting what you want and once done convert. All editing software has this feature as its the most important and first step to editing.
Back on Topic
I finished testing LCD run-time at room temperature with
Standby no bacpac not recording camera on 2h:29m
Camera in Standby mode with LCD screen attached but switched off not recording 2h:24m
No bacpac 1080p30 video recorded 2h:21m.30s
LCD attached but turned off, 1080p30 video recorded 2h:06m.21s
LCD min brightness, 1080p30 video recorded 1h:34m.50s
LCD medium brightness, 1080p30 video recorded 1h28m.50s
LCD max brightness, 1080p30 video recorded 1h:16m.01s
All these were tested shooting 1080p30 wide and my run-times are the total length of the recorded videos. I will do some water tests at some point and see how they compare at lower temperatures.
As I suspected Standby times are not much better then having the camera record, this is why I set camera timeout to 60 seconds. That way it will turn off when not in use or otherwise your better off just recording as its uses nearly the same amount of battery.