NiCD's tend to have a higher discharge rate, but require regular discharging to preserve capacity. If you don't discharge them before recharging they can develop a memory effect.
NiMH's do not require discharging before recharging, but tend to have a lower discharge rate. Similar sized NiMH cells usually have a higher mAH rating than NiCD cells.
NiMH's will also self-discharge faster than a NiCD will. Meaning two weeks after a charge with no use, a NiMH will have less juice than a NiCD. Not really an issue with airsoft, I for one charge up my batteries the night before the game.
NiMH's are usually more expensive as well. I run a 9.6v 1800mAH AUG custom in my AUG, and 8.4v 1300mAH large batteries in the AK and MP5.
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