Normally when your battery is about to die, a banner notification displays saying "Battery Low". Here's the problem, I got a fudged battery on eBay for 5 USD. Good news, it's got a great capacity, around 1300mAh. Bad news, is that whatever system component reads the battery, doesn't read it correctly (due to the battery). Even when I have a solid two hours left, the battery icon displays it's lowest reading icon - hardly filled battery icon with a small red line.

What's that mean? I get "Battery low" every 30 seconds to 4 minutes during my last two hours of charge.

Is there any way to disable this notification?

I can't find a way to do what you want safely. Unfortunately BME (Battery Management Entity), the system component responsible for issuing the warning, is closed source so we can't modify it. We can't even disable it safely, as lithium-ion batteries can vent toxic gases or even catch fire or explode if discharged or charged incorrectly.

There is a recently started project to recreate the functionality of BME from scratch with open-source code. This may be of use to you when it matures.

That article leads me to believe modifying the battery to present a 100 kΩ resistance might lead to the charge level being reported more accurately. I'm no electrical engineer and I have never seen documentation of the pin-out of Nokia batteries; I wouldn't risk it myself without confirmation from someone who really knows their stuff.

The only thought I have is somehow intercepting and discarding the dbus message "battery_low". I don't know of a way to accomplish this, and I have my doubts that it's even possible.

It is possible that the notifications are generated by the status area applet. You can disable this applet by moving the files

/usr/lib/hildon-desktop/status-area-applet-battery.so
/usr/share/applications/hildon-status-menu/status-area-applet-battery.desktop

To another location, and editting the file /etc/hildon-desktop/status-menu.plugins, commenting out the lines

[status-area-applet-battery.desktop]
X-Desktop-File=/usr/share/applications/hildon-status-menu/status-area-applet-battery.desktop
X-Status-Area-Permanent-Item=Special-Item-1
X-Status-Menu-Position=1

Good information, I'll have to look into it.