Folks say you should reduce the low-voltage cutoff in the ESC. Voltage drops more during a flight with a Li-Ion battery than with a LiPo.
Exactly, that is also reason why the LiIon combo needs MORE voltage head room than compared LiPo. Wheather LiIon can replace the LiPo in particular setup is question of that volatge head room. Motor will need pull hard when pulling nose up, so lower voltage can limit that boost. If there is enough head room it will be covered, if there is not enough, especially on end of the flight, it will loose speed. This problem is magnified by string sensitivity of active timers. Solution is motor with more KV but it will also need more amperes.
In any case, LiIon 6s battery has end voltage like 5S Lipo battery, so it will always run at lower efficiency, fortunately it has more capacity.