You were right. I disabled the Driving option and it no longer pings gps every 5 minutes. The number of wakelocks is still massive though which I think must be down to Google Now (I've never bothered with it in the past because it used to eat the battery on my N4 whenever I used it). I'm still managing circa 4+ hrs SOT, even with all the wakelocks so I'll leave it for the time being.
Difficult to find what the wakelocks are without rooting. Mine not so bad since I disabled the driving option - which to be honest isn't anything exciting anyway.
I've never given Google Now a try.
Battery life is good and and as you say 4 hours plus screen on time is easily doable and had over 5hours the other sunday
No Lollipop here
Not sure what the delay with Lollipop is but from previous experience, Motorola roll these OS updates out in phases and from memory with old Moto X the UK model was one of the last models to get Kitkat.