Wawa:
AFAIK it's not good to (fast)charge a lead-acid battery to 14.7volt all the time, unless you're desperate for power. Maybe only good once a month for de-sulphating a flooded deep-cycle type.
Gel types should never be float charged over 13.6volt.
Leo..
I think the point is its 14.7V at high current, so some volts are lost to internal resistance - a good charger
will stop the current and monitor the no-load voltage regularly to get a true indication of SoC. 13.8V is
the normal limit for no-load voltage - any higher and you are manufacturing hydrogen, not charging a battery!