You don't have to re-condition the stats - they adjust over time.
Im a little confused about calibrating the battery and wiping the stats
I understand to calibrate you need to charge and drain fully a few cycles, but what does this achieve? Does that only need to be done with new batteries? Also whats the point in wiping the battery stats in recovery? Im curious because I have 3 batteries (2 standard and one extended) and I use them evenly. Is my battery indicator going to be inaccurate because I switch between standard and extended batteries?
Can't talk about ICS, but with the OG the battery reported it's own fill value every 20%. So if the phone was 'used' to you having a standard battery and you threw in an extended, the phone would tell you it was down to 90% just like if you had a regular battery in, then it would take forever to get to 80% because it actually waits for the battery to report that level.
Not sure how often this battery reports, I think every 10% just based on how it is acting. If that's the case, then you don't really have to worry about the phone's extrapolation much. At most it would be off by less than 10%.