It doesn't jive with my personal experience using the iPhone5 on LTE and 3G
It contradicts Apple's own battery life claims
Devices with the old SOC get dramatically different results on the new test (see for example the results for the HTC OneX in Anand's initial review and compare with the results in the iPhone5 review chart).
LTE battery life with today's SoCs vs 3G on today's SoCs > LTE battery life with last year's SoCs vs 3G on last year's SoCs
with the suggestion is that the improvement is significant enough that LTE battery life isn't the problem it used to be. None of that claims that LTE battery life today is better than 3G battery life today.