I don't think we should measure fatigue. I don't think it's really a key part of the illness. The original definitions of ME do not describe fatigue as being a defining symptom. This is the problem with the CFS name vs ME or SEID. I was reasonably happy with the IOM's recent work.
For me, I feel mostly ok if I don't do anything, but even minor physical exertion can have dramatic effects. The fatigue for me in that scenario is closer to how one would feel with the flu - it's sort of like an "illness behavior" type of symptom. You feel malaise, low motivation, and don't want to get up and do anything or move around.
I do sleep poorly - I wake up a lot in the middle of the night, and the quality of sleep is rather poor. I don't often nap during the day anymore. The problem is that going to get the mail at the end of the driveway can be exhausting when I'm in bad shape.
I also did very poorly on a CPET - not the 2 day, just the 1st day, i was at 56% of predicted VO2 max. The pulmonologist thought I had DCM, and sent me to a cardiologist for a stress echo - totally normal. Heart rate went up to almost 190, bp rose to over 200 systolic. No abnormal wall motion, no ekg abnormalities, and the echo looked normal. The only thing noted was a hyperdynamic left ventricle - about 88% ejection fraction - and some mild left ventricular hypertrophy (and thickening of the IVS). It was borderline though. I did not desaturate.
After I exercise like that, I get EXTREMELY shaky. I can't hold a glass w/o spilling for a few hours. I have trouble standing up. I had to stop the test finally because I was beginning to have trouble seeing/focusing and I was becoming lightheaded.
The "fatigue" in CFS is mostly a post-exertional intolerance, hence SEID. For me, it definitely does not feel like I need to sleep - more like I need to lie down and rest. It can take way too long for the body to reestablish homeostasis.