Hello, I have a 9 volt battery going through a 5v voltage regulator and the 5v is powering 2 servo's. The problem is I did testing off and on throughout the day on a fresh 9v battery and its already at 7 volts, and you can tell the servo's are running significantly slower. Is this normal?
A 9 volt PP3 battery is a very poor choice for powering motors. It will last for only a few minutes of full servo action. You should budget 1 ampere of current per moving servo.
Small 9V alkaline batteries are beyond hopeless for servos and motors. They provide about 50 to 100mA before flaking out.
4 x AA rechargable is the standard way to power small servos.