You might want to read up on Li ion batteries. They should not be fully drained.
While this statement is true, you can run the droid until it shuts down as Motorola shuts the phone down before a 'deep discharge' occurs.
That being said, all a full charge/discharge cycle 'conditions' with a Li-ion battery is the battery status meter, not the battery itself.
To the OP - this is my 3rd smartphone and, so far, it has the best battery life of any of them, which is pretty impressive considering it has the biggest best screen of the 3. If you check your battery status as previously suggested and your display is, by far, the biggest user then you probably will not get much more life than you are unless you decrease screen brightness.