I found this post in the EVO 4G Accessories forum:
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I usually pay attention to the voltage rather than the charge light. If you haven't yet, get a battery application or a system info app that gives you info on the battery and voltage. Typically when the battery is full the voltage will be close to 4,200V. When the battery is halfway, the voltage is around 3800v. When mine is full, it's typically around 4,19x volts.
Here's a pretty helpful description of someone's test from the xda forum:
My experience.
Charging from empty.
After 1:41h evo said battery is full. With 3,976V. But charging still continued. After 2:40 charging finished with battery on 4,121V. And startid cycle. And after 8h is battery on 4,199V. Should be full if full battery is 4,2V how somebody said. Only time for full charging is short..only 2,75h x 800 mA is 2200mAh. But battery shows 4,199V and should be full..so...i dont know conclusion :-)
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This is a lot more informative and to the point than whimsy about "magic smoke." It's not that I lack a sense of humor

rather, it's that I needed information not condescension. Thanks for your time and have a nice day.