Lets assume for a moment (since neither of us know if the 3.7v protected batteries have overcurrent protection) that these batteries do indeed cap output at 1.35a, how would that effect a voltage boost converter? As I understand it, boost converters essentially trade amperage for voltage, but if the amperage output is capped at 1.35a, would your available amperage actually decrease to the atomizer while increasing voltage, but for a net wattage gain of 0?
I am not sure since I don't know what happens with the boost converter output when the load is applied. If you hook up your boost converter and measure its output, it will read 5V. Now apply your load, and you get a voltage drop. Does the boost converter then compensate and try to boost that voltage back up to 5V?
Lets say the boost converter does not do that, it just puts out the 5V and doesn't compensate for the voltage drop. Your battery is going to max out at 1.35 amps and sustain that draw. I think the boost circuit would just be able to give the 5V at 1.35 if you don't factore in its effciency. As the battery voltage drops more, then your wattage will start to drop.