$2 shipped ebay Lion charger

I just tried a 4.35v battery on the same looking $2 Chinese charger but it only charged to 4.2v.

The charger itself charged at 4.210v constantly, no changes like in the charts above.

What I was surprised by was that my battery was at exactly 4.200v when the charger went green.
These batteries are never perfectly on 4.2v, usually above or at 4.19v.
Supposedly the charger charges at 450mA(0.45A), but I don't know how to measure and confirm that.

That was the battery ending voltage as measured by my precision test equipment.

Working with a basic conversion from AC that only has one diode there is likely a LARGE amount of ripple at whatever the line frequency is, 40 or 60 hz. Without a scope you would not see anything using typical meters.