But the battery datasheet says "Never discharge Li‐Po battery below the Lowest Discharge Voltage 3v per cell"
and the voltage regulator data says "takes an input voltage from 2.7 V to 11.8 V and increases or decreases the voltage to a fixed 5 V output'
Thus wouldn't the Voltage regulator discharge the battery to 2.7V causing irreversible damage which will deteriorate the battery performance and cycle life ?
http://www.overlander.co.uk/fullymax_warning_sheet_li_poly.pdf