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True... you will get a notification on left side of notification bar with battery symbol containing "100%" in it once battery is completely 100% charged...You don't need to 'condition' your battery. just plug it in when you think you need to, it will beep once it's full.
Does Battery Calibration, which also requires a complete drain and charge, do anything?
You need root for the app to work though.
Calibrate your battery when you think it's miscalibrated.
Requirements: Android 2.1+ | Root permissions
Check the 2nd line