I set my Tx's timer at 6 minutes for all of my electric planes and land before 7 minutes even when there is plently left - avoid bottoming a pack out, it hurts them.
You should get that 6 minutes too if its proped for max performance (14x7) and your packs should be warm+, or very slightly toasty, if that makes any sense.
It should not be hot or puffing. You should certainly be able to hold it (gripped) without a hot-potato sensation - it shouldnt hurt you.
I guess, without ever having taken a temp, a 6 minute pack should be around 120F, plus or minus a bit.

With a 13x8 you'll find better run times and cooler packs compared to the 14x7.
Maybe 7-8 minutes and barely warm packs.

No... do not "cycle" or discharge these packs (I have not found a use for it anyway).
In fact, if you run your packs too low a few things happen:
- Your esc will enter LVC (Low Voltage Cutoff) and at best, it will cut your already-dying power in half = cant maintain flight and crash.
- Your pack is likely to get hot.
- Your pack is likely to be damaged/life shortened.

Land with plenty left in the packs, let them cool a bit, and recharge from there. Lipo's dont have a "memory" of sorts.
My packs normally check at 10.8 to 11.3 volts after 6 minutes - a good range to be in with reserve saved for a go-around if need be.