Agreed 1000%. The local circle track guys here go down to .025" and that is with detailed measurements. I'd keep typical builds up at .035" and not worry if it got up to .045". For a long term street motor, wear on bearings and pistons (with more consequent piston rock) will allow the gap to close up over the very long term.
Raising hand... guilty as charged!
Good question.. I have always assumed that if you get around 1/2" or more of squish width, you are good, but that is just an assumption based on nothing but my imagination... Don't you get some from both edges?