That does sound a lot, mine probably drops about 1.5% per hour when on standby, so over night 10 hours ish, I'd expect about 15-20%. That would be normal.
If your 650 is new, it may be running updates etc. You could make sure its fully up to date, then do a hard reset from the System/about settings screen, then set phone up from new, or just give the phone a little longer to settle down. Whatapp is one of the higher battery usage apps.
As to the glance screen, you're right, it uses very little. As to how it works, if you set it to 30 secs, it will use the light sensor to turn on when you take it out of your pocket, it will then remain on for 30 secs and then go off. If it is in the light all the time, it will go off after 30 secs, but wave your hand over the sensor and it will come on for 30 secs.
Biggest problem is that when plugged in, it will run all the time, MS removed the option to set this (god knows why) this may cause a problem with burn in of the screen with AMOLED screens like the 650.