Some interesting quotes:
Lithium-ion is a very clean system and does not need priming as nickel-based batteries do. The 1st charge is no different to the 5th or the 50th charge. Stickers instructing to charge the battery for 8 hours or more for the first time may be a leftover from the nickel battery days.
The charge time of most chargers is about 3 hours....The charge efficiency is 99.9% and the battery remains cool during charge...No trickle charge is applied because lithium-ion is unable to absorb overcharge...Depending on the battery, a topping charge may be repeated once every 20 days...Extreme low voltage must be prevented.
a new lithium-ion pack does not need cycling through charging and discharging. Priming will make little difference because the maximum capacity of lithium-ion is available right from the beginning. Neither does a full discharge improve the capacity of a faded pack. However, a full discharge/charge will reset the digital circuit of a 'smart' battery to improve the state-of-charge estimation
http://www.batteryuniversity.com/partone-12.htm
It is important to note that trickle charging is not acceptable for lithium batteries.
http://www.powerstream.com/li.htm
NiCad - Requires discharging for long life; Memory effect
NiMH - Poor low temperature performance, Low cycle life.
LiIon -
No discharge required; Can be recharged in any condition
http://www.urbanfox.tv/articles/batteries/b1batteries.html
NiCD - A disadvantage with NiCd is its memory effect, which requires periodic discharge to prevent charging problems. Advantages include its simple charge characteristics and its ability to accept a high number of charge/discharge cycles
NiMH - NiMH offers about 30% to 40% higher energy density than NiCd. Also, NiMH batteries are less prone to memory effects.
LiIon - Li-ion’s
life expectancy is 300 charge/discharge cycles, with 50% capacity at 500 cycles.
(Calls my remark above into question).
http://electronicdesign.com/Articles/Index.cfm?AD=1&ArticleID=20737
Lithium ion (Li-Ion) disadvantages:
-- has a shelf life based on life of battery, not related to charge or charge time
-- can sometimes erupt or explode in high heat - hot cars, direct sunlight, etc, or sometimes after tampering. a more dangerous battery than the others
--
permanent damage to battery if stored at too-low discharge level, so be careful and keep these charged well
Nickel metal hydride (NiMH) disadvantages:
-- fewer life cycles compared to NiCad
-- shorter run time
-- performs the worst in cold temperatures, so keep that in mind if you plan to use tools powered by NiMH outdoors in cold weather
-- higher self-discharge level than NiCad
-- voltage drop at near-discharged levels
Nickel cadmium (NiCad) disadvantages:
-- Heavy, making it harder to use for longer periods of time
-- May suffer from 'Memory Effect' or 'False Bottom Effect' if constantly discharged half-way and then recharged (wiki pedia)
http://www.streetdirectory.com/travel_guide/159640/technology/nimh_vs_nicad_vs_li_ion.html
As you can see, conflicting advice regarding Li-Ion. Notice Bustawrench's post also leaves the question open regarding the life of a Li-Ion battery...is it time, or is it cycles? Or both?