for li-ion, never overcharge, over 4.20 +-.05
never discharge below about 3.0V max low discharge is 2.4v and you should recharge at least 1/2 way quite quickly when down that low.
Protection attempts to keep the battery between the 4.2 and 2.4 these are maxs and mins, leaving it low (even at 2.4) will eventually ruin it, overcharging it will ruin it.
they only last so many years, depending totally on if they are cheap junk or not, and they only last about 500cycles, after they reach end of life they are Ruined, and should not be used any more at all.
a ruined cell can be very dangerous when charged quickly, slightly dangerous when charged slowly. so you should basically check its condition before charging.
reverse charge and improper series assembly and use of a bad cell in series or parellel, way to fast charging, overcharging, charging a ruined cell, shorting or crushing blows, can cause catastrofic failure.
for storage they should be kept about 50% charged, which is commonly about 3.8v. they do not need to be cycled regularly and good ones (vrses ruined or bad) will hold 90% of thier charge for some 6months. a new cell that has been parked can sometimes be slightly improved with 2 cycles, after that there is no reason to purposfully cycle them. if they start loosing power in self discharge to an ammount that is noticable they are probably Ruined. they can be topped off at any time, but remember they store well at 50% so excessivly topping isnt usefull.
that is just a primer and all this stuff
http://www.candlepowerforums.com/vb/showthread.php?t=161549
used PROPERLY and having proper protection people will even put li-ion on thier heads, and up to thier ears
used improperly dont put it in your pocket next to your gonads
if it get to catostrofic failure, then you sometimes get a warning, a rumbling feeling , fissing, heat, if you get that happening, RUN.
if you wont read the manuel, understand a little bit about it, use the proper charge techniques, and treat it poorly THEN DONT USE THEM, They are some of the most power holding things we have available, and if people treat them poorly and dont take care of them some safety nuts will take them away from us, and it will be all your fault
Li-ion is a great battery, with lots of power and light weight, a little respect of the item and proper use and you have a awesome power source. with improper use you can have a complete disaster, so understand the proper use, and use protected batteries, even protected can be DAMAGED and shorted, so take good care of them, dont drop them and stuff like that.