The most embarassing thing is the conduit loss. I was so sure about that, I haven't even did my own test. Until now. Sorry. Has this chaged recently, or have I always been thinking it wrong?
Depends on how you define "recently". Energy conduits were completely rewritten in TE v2.1.4, and that was sometime in December, probably before Christmas. I know that when I started my world on the 30th, it was already up to 2.1.6.
I did not test conduit performance before the rewrite. It's possible that they were bugged back then and did not lose any energy at all, but I can't confirm or deny that.