Hi Justin
in battery design reducing voltage even to 3.15V may be important for reducing power consumption.
> The nominal voltage is around 3.7V, but as it depletes it may get as low as 3.2V - therefore have the designers chosen to >use 3.15V (rather than 3.3V) to ensure that NVCC / PERI voltages can be maintained as the battery depletes?
this depends on pmic and voltage regulators, one can check its datasheets for minimal allowed voltages.
Best regards
igo