Kai,
A fine analysis explaining exactly why what many of us have said will happen: This is not a good circuit for charging Ni-cads except in the most limited circumstances.

I am happy that this thread HAS concentrated on safety issues with charging batteries, and once again note we STILL don't know his chemistry. The comment that it will charge anything is to some extent correct - but would it work, and would it be safe for all chemistries. NO.

Steve