$T_{decay}$ as you've defined it is a reasonable rough estimate of how long it will take before the last nucleus has decayed. However, you can't say that that's how long it will take for sure, because $N_t = N_0 e^{-t/\tau}$ is only accurate in a probabilistic sense. Also, that expression for $N_t$ is only accurate when $N_t$ is large enough that it's reasonable to treat it as a real number instead of an integer.
You can get a more accurate value for $T_{decay}$ by treating the problem probabilistically explicitly:
Given that the probability that a given initially undecayed nucleus $i$ will remain undecayed after a period $t$ is given by
$$\bar{p}_i(t)=e^{-t/\tau}\ \ ,$$
the probability that all $N_0$ initially undecayed nuclei will have decayed after a period $t$ is given by
$$p(t)=\prod_{i=1}^{N_0}\left[1-\bar{p}_i(t)\right]=\left ( 1-e^{-t/\tau} \right )^{N_0}\ \ .$$
Solving that expression for $t$ gives that the time required for there to be a probability $p$ that all of the nuclei have decayed is
$$T_{decay}(p)=-\tau \ln \left ( 1-p^{1/N_0}\right )\ \ .$$
Note that that expression diverges in the limit $p \to 1$, reflecting the fact that you can never quite be 100% certain that all of the nuclei have decayed, no matter how long you wait.
The above can be related to the value of $T_{decay}$ given in the question by noting that
$$p\left(\tau(1+\ln N_0)\right)=\left(1-\frac{1}{e N_0}\right)^{N_0}\ \ .$$
For large $N_0$ this approaches
$$\lim_{N_0\to\infty}p\left(\tau(1+\ln N_0)\right)=e^{-1/e}=0.692201\ \ .$$
I.e., after a period of $T_{decay}$ as given in the question, there's about a 69.22% chance that all of the nuclei have decayed.