yerp. Basically, with these atomizers youre using Ohm's law to figure out how much power is being turned into heat. To calculate power, you can use the following equation since voltage is going to be constant. Since batteries are a constant voltage source, current changes with the amount of resistance, the lower the electrical resistance (measured in ohms) the higher the current draw and thus the higher the power drain. P=V^2/R (voltage squared divided by resistance).
So a 4.5 ohm atty will have 1/3 the power consumption as a 1.5 ohm part. This means youre getting a third as much heat essentially, so you may not be satisfied with the vaping experience when using 3.7V batteries. However, your battery life will be much longer and less strain will be put on them