What is the value of $1^i$? $\,$
First, a concrete example of things that can happen with complex exponentiation if you aren't careful: $1 = e^{2\pi i}$, so we can naively try to compute $1^i = (e^{2\pi i})^i = e^{(2\pi i)i} = e^{-2\pi}$. 

The formal moral of that example is that the value of $1^i$ depends on the branch of the complex logarithm that you use to compute the power. You may already know that $1=e^{0+2ki\pi}$ for every integer $k$, so there are many possible choices for $\log(1)$. 

The textbook definition of complex exponentiation states that $1^i = e^{\log(1)i}$ where "log" is a branch of the complex logarithm. 

Now $e^{(2ki\pi)i} = e^{-2k\pi}$. If you take $k = 0$, which corresponds to using the principal branch of the logarithm, you get an answer of $1^i = e^0 = 1$. If you take $k = 2$ as in the example above, using the fact that $1=e^{2\pi i}$, you get $1^i = e^{-2\pi}$. There are infinitely many possible values for $1^i$, corresponding to different branches of the complex logarithm. 

The confusing point here is that the formula $1^x = 1$ is not part of the definition of complex exponentiation, although it is an immediate consequence of the definition of natural number exponentiation. 

A second point that can be confusing is that the function $e^z$ used above is really the complex exponential function $\exp(z)$, which is defined by a power series. Otherwise, the definition of complex exponentiation would be circular. 
