I recently installed a clock and voltmeter in my Wudo fairing, which needs to be, uh, painted. Very easy install. A used BMW voltmeter costs about the same as the one you are considering and you can still order the bracket from BMW. Two wires, one from the green and black switched line and a brown ground. Since I was installing a clock as well I ordered the factory wiring harness, yes, available new, reasonably priced, go figure, and the accessory gauges piggyback onto the connectors under the tach. When idling in the dreaded traffic it falls just south of or is right at twelve volts but anything over 2500 rpm and it is a solid 14+, which was a surprise. I don't have any tach bounce at all, so maybe that has something to do with your drain. It's an electric tach, why would it be bouncing?
My clock is on all the time and I haven't had any battery problems, but now that I have said that it will probably be dead in the morning...
I'm sure Monte, master of the sano installation, has a lot more info than I do.
Steve