westfw:
The 16u2 and/or USB chip is only part of the problem with an Uno. The voltage regulator uses significant quiescent current (~75uA at low loads, compared to less than 1uA for max sleep modes of the AVR._ The OTHER voltage regulator has a HIGH quiescent current (~10mA.) (and this is assuming that whatever board you got is using the The op-amp used in the power-switching circuit is not low-power.
Hmm. Putting the 16u2 into low-power mode when no USB is present should be a firmware change, too. But with the other board-level issues, it's not worth the effort.
I agree that there's better options, like Pro Minis or a custom circuit. I'm just saying that those aren't the only options.
westfw:
BTW, "standard wisdom" is that for lowest power operation, you should run the CPU at full speed when it's on, and sleep as deeply as possible in between. There is a more-or-less linear relationship between speed and consumption, and another linear relationship between on-time and power consumption, so they tend to cancel each other out (half speed uses half the power for twice the time.) Add clock-related times to the time to get in and out of sleep modes, and the faster clocks come out ahead. Usually.
I've brought this up in a different thread, so it's good to see someone else that gets it. There was a Sparkfun article investigating low power (which I think has been replaced, I can't find it anymore) where the author put sleeping into the sketch, saw a huge power reduction, then reduced the clock frequency from 16 MHz to 8 MHz and was confused that there was no change and not the 1/2 reduction that was expected from the common wisdom.
The reason for that is that the CPU is by far the biggest power consumer in the chip. Even the lightest sleep mode (Idle) which just turns off the CPU and Flash clocks reduced power consumption by about 70-80%. Once the CPU is turned off, the remaining peripherals by-and-large operate relatively independently of the choice of CPU clock frequency (assuming their prescalers are chosen properly), or are completely analog (like the voltage reference and comparator peripheral).
For this reason, when you liberally use sleep modes, reducing the clock speed only provides a significant benefit if you also lower the supply voltage. The Speed Grades chart in the datasheet shows that higher clock frequencies require higher supply voltage. Conversely, lower speeds can use lower voltages. With a 4 MHz clock you can go all the way down to 1.8V. Since the repeated charging and discharging of the MOSFET gates during CPU operation acts like a switched-capacitor resistor, using less voltage means less charge pumped per clock cycle, which means lower power usage. All other things being the same, a 2V power supply will require less power than a 5V one, even if you are using linear regulation to get it. Do the math yourself. Calculate the current draw from a 9V battery when using a 2V regulator to power a fixed resistor, compared to a 5V regulator to power the same fixed resistor.
Spoiler: The 2V regulator will technically be "less efficient", but will use less total power than the 5V one. Try and make sense of that.