Yes, you've got it right, icameasadrian. Use it until it drops to very low percentage, lather-rinse-repeat.
We've seen battery calibration techniques discussed here and there over the years, but the modern lithium-ion batteries in our devices now don't benefit much at all from anything except normal drainage and then recharging. It has more to do with the device's metering of the remaining charge than it does fast resource loss in most cases.
Exceptions have to do with changes the user makes in apps and widgets, most often. Auto sync of weather and social networking apps, etc, when manually syncing on demand is preferred for best battery life.
Of course, if you purchased an off-brand cheap-o, all bets are off.
