Best guess, is, a good chip varies voltage and amperage to reduce strain on itself, but always hitting the set wattage
Actually, I did a bit of observing by connecting my mods to the computer; there's a feature both in ArcticFox and eScribe that let's you observe in real time what's happening while you take a draw, and it records graphs for the values you want to see (like temp, watts, and others). The results were a little bit surprising, in that it only hit the set wattage (30W) for a very brief moment (like less than half a second) and for the rest of the draw it used maybe like half of that to maintain the temperature. This is with pretty thin wire (30Ga and 28Ga). That made me experiment a little, now I'm set at 20W and still get the same vape experience, except that it takes about 1 second to reach the set temperature, and before it was near instantly. (Most vapers probably prefer the shortest ramp up time possible, but for me it doesn't matter all that much)
So concerning about the strain on the battery, it seems that if you have TC activated, you have a lot less to worry about, since you're not drawing the set wattage as long you're firing, but only for a short amount of time.