Too bad it is not a programmable or adjustable voltage cutoff. Depending on the cell count, LiFePO4 or other lithium chemistries can have a lower cutoff voltage and still not kill the battery by over discharging them.
I've been reading a lot of success stories from folks grabbing the DeWalt 36V tool batteries and using them as-is in their e-bikes (heinzmann, wilderness electric, and Crystalyte motors for the most part). The packs have a much lower end-of-discharge voltage, about 22V. If the controller cuts out at 31.5 volts you may be missing out on a significant chunk of the cells available energy.
Some remote control aircraft enthusiasts have been putting the lithium cells from the DeWalt packs through their paces and have run them at 30A through more than 1000 discharge cycles (to 100% depth of discharge) and they still had almost 80% of initial capacity. That makes it sound like they will really stand up to a beating.
As with all Lithium ion batteries, the packs are a bit expensive (going rate on ebay is ~$105 shipped). They deliver 2.3Ah each, so about 57.5Wh through 100% discharge. A pair should give around 6 or so miles of motor-only range. If someone actually continues to use their e-bike over the long haul they are probably 1/3 the cost of lead-acid batteries. The lithium batteries are also much lighter, about 2.5lbs for each DeWalt pack.
On another forum, someone mentioned there is a way to replace resistors on a different controller (Crystalyte, I think) to change the cutoff voltage. Maybe with the controller schematic we could figure out how to do a similar thing. I'm guessing it would involve placing a lower R on a pull-up line.
The LiFePO4 packs GoldenMotor sells probably have enough cells to match the low-voltage cutoff of 31.5V at nearly 100% depth of discharge.