ORIGINAL: Icebird
I would guess there's a problem with the tx as well, but having said that, the low voltage warning shouldn't be coming on at 9.5 volts either! On my radios, it comes on around 8.9 volts. If you quit when your voltage shows 9.6 you are only using about half the capacity of your batteries. The transmitter will put out full power until the low voltage protection shuts it off!
I was only guessing at the low-voltage alarm level -- with the NiMH battery in my Eclipse it's still showing over 10V after a full day's flying, even though I might have topped up the flight pack (600mAH) several times with my field-charger.