Android's power management gap
The battery life of the Xoom and other Android tablets is a large part a power management issue. Nearly all the top tablets ship with the same ~25Ah battery capacity. A few, like the iPad, use fairly power hungry IPS displays, most use the lower power "plain old TN" type displays. They're all using about the same kind of processors... the Xoom if anything should have a small advantage over the iPad 2, given slightly smaller chip geometries and a other power saving issues.
It's interesting to note that the same thing's true in the PC world. Apple's making fairly standard x86 laptops, using the same chips as everyone else and higher current IPS displays. They have good sized batteries, but nothing crazy large. And yet, Macs last a long time too.
In short, Apple is really good at power management; Windows and Android, not so much. This could be fixed, but until it's priority, keep that charger handy.