Back to the lab................
Evic has already been tested to put out up to 5v actual with decent(IMR or Hybrid) batteries.
Voltage WILL be regulated by the ohms load on the Device.
Also HEAT comes from LOAD. that would be the device requiring, not supplying power.
40 years in DC electronics
I hear what you are saying. I appreciate your electronics experience.
What I'm saying is that nothing whatsoever in, on or around eVic control head gets hot, or even very warm when IMR batteries are used and you want to chain-vape at 1.2ohms with 28ga Kanthal wire. I remove the top connection interface ring and feel the metal drip well below ... it's barely warm. So, if there are any cautions about "overheating", then I'd like to know where this heat is in respect to the eVic. Yes, the load mounted above has a very hot top-cap, but that does not contact the eVic control head as there is a liquid tank between them.
I'm merely relaying what I have found by testing.
If in fact the full 5v are available, then it must be scaling back on the amps. Obviously mathematics say so. Nonetheless, I vape VW so I don't need to be concerned with all that, but made the above post for demonstration purposes for the OP.