Siskiyou,
The battery discharger you have described will work all right but there's one other thing you should look into: Voltage monitoring.
If NiCd or NiMh batteries are discharged lower than 1Volt/cell they can develop polarity reversal. Having said that, in my experience if you run them down to less than 1 Volt and then IMMEDIATELY put them on charge, they won't reverse. If you discharge down to absolutely 0 Volts, they will develop reversal. Found out this is true the hard way. Also found a way to reverse the reversal that I won't even mention here as it's pretty hazardous.
The Commercial units monitor terminal voltage and when it hits the 1 Volt/cell mark, they shut off the discharge and go to charge mode.
When they hit the delta V or Delta T point (depending on manufacturer), they go to trickle mode (C/10 or less).
Ka6otm