My experience is that the red light is totally unreliable. I have had it come on and stay on on an overnight charge. However, it usually comes on part way into the charge, then goes out a few hours later.
I have seen both behaviors using the same AC charger.
Using a higher current charger, which I would not recommend using all the time, the red light comes on fairly early in the charge cycle and always goes out between 2 and 3 hours of charging.
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