Does it put the battery under any type of load for accuracy ?
nope it's a straight up dvm. load is not 100% necessary in the field. if your resting voltage is 3.6..it's a good idea to swap to a fresh cell, and
if you choose to continue using the battery..then at least you know it could suffer some damage.
so you'd keep this in mind the next time you go charge this cell.
if the charge is above 3.6v then you know it has some life left. exactly how
much is unknown, unless you keep track of cell charging habits/cell health..if
cell condition is known, then you will have a decent idea of capacity left vs
resting voltage. you get used to it after a while...and you do end up
noticing runtime differences on older/abused cells..and thus retiring them.
it's also a good idea to mark cells once they being to degrade, so you dont
accidentally expect too much runtime out of them during use. it helps
to have a decent hobby charger.
you could easily make a small load device for use with that dvm..simple
would be a 6D maglite bulb connected in series to this tiny dvm.
but again not necessary when you know the health of your cells and just
need an idea of when to stop using it.