I am only seeing 1:50 of estimated run time on a new MacBook Pro battery. Problems?
What are you doing when you are testing?  The "up to 7 hours" is for basic web surfing with little computation going on. If you're pushing the system hard, it's inevitable that estimated battery life will show as lower.

Estimated battery life is essentially (battery level remaining / current power usage). As usage goes up, estimated life goes down.  That's standard for all laptops, by the way.  Of course, all manufacturers quote the highest life value, but then most laptops don't spend much of their time being pushed hard.