No you are not correct.
Most NiCads are good and stable at load down to 1.1 to 1.0 volts per cell.
This is 8.8 to 8.0 volts so there is no problem.
The pack is basically depleted at 0.9 volts per cell which is 7.2 volts.
With NiMH, the voltages are the same but the pack will get there a lot faster.
ORIGINAL: masonman
Why does the voltage warning come on at 8.4? Your takeing a chance after 9.6.