Just some further thoughts on this.
I think when you first wake your Touch up, you have to wait at least say 1 minute for it to get its act together before you check the battery level. I suppose you have been doing that, but if not, it might account for the wildly swinging amounts, especially going up.
Also, I think that when you have a Touch with this problem, it really is charging correctly, and probably is not draining as fast as it thinks it is. I think that the problem is just in what it THINKS its charge level is.
In other words, if you can stop it from thinking its charge is dropping quickly, it will work fine. The topping off technique seems to do this.
The problem, of course, is that you are at the mercy of what it thinks - i.e. even if it is really at 90% charge but thinks it's at 15%, you'll have to recharge it.
So I guess what I'm saying is that if you can establish a method for stopping it from thinking it is draining (rebooting, topping it off with the charger, topping it off with the computer, whatever works), you can stop obsessively checking the battery level. It doesn't matter if it sometimes goes up from 94 to 95. What matters is that it doesn't drain.
I mean, for example, that I have never topped it off and had it behave itself for say a week and then suddenly start draining quickly again. It seems to be something that only happens after the initial recharge with the charger.
I kind of think that this is because the charger charges it too quickly. I haven't tried it, but I think that when it reaches below say 30%, if you charged it the entire way by tethering it to the computer, it would work fine and would never rapidly drain.