It's acceptable to vape down to 2.8v on an typical 18650, but you wouldn't like the vapor production any lower than 3.4v. Vapor output will tell you when the battery needs charging. Current draw from the battery
decreases as voltage drops.
Battery warmth would be a good monitor for whether you are stressing your batteries too much. A mech is a straight forward calculation using ohms law since there's no electronic component to buffer battery draw. Calculate your power level at the 4.2v max voltage level of the battery for safety.
Power in watts = Voltage*Amperage.
Current in amperage = Voltage/Resistance
If you are vaping a .5 ohm coil at the nominal 3.7v level with a single cell ohms law would calculate that you are vaping at 7.4 amps/ 27.4 watts. That's well within the safety factor for most single 18650 mechs. As you vape down to the recharge point the wattage and amperage will drop with voltage. Lower resistance will increase wattage and amperage.
Check it out here. Plug in some numbers and see what happens.
Ohms Law Calculator