Yes, .06 inches is where I have mine set for my 7", 37' chimney and mine is open all the time but for those very warm humid days and it moves with the wind changes. In my opinion, from the books I've read and from my experience, the chimney is more important than the stove that it is connected to. You can make even the worst stove design perform with the proper draft flow. The only way to know what the chimney is capable of drafting is with a manometer or draft gauge. There is so many variables with the chimney. It's size, height, inside or outside the house location, the amount of high obstacles, such as trees other buildings, hills, wind patterns, roof line, how many elbows in the stovepipe, the horizontal length of the stovepipe, the pitch of the horizontal stovepipe, the weather, all affect the performance of a chimney.
I had an experience once in the beginning of my first set up with the same chimney, where I positioned the furnace, I had three elbows twisted into a weird configuration and couldn't get the stove to keep a fire. I changed the position of the stove, made the stovepipe run shorter and more simpler, now the chimney sucks like a vacuum cleaner. Sometimes just little things do the strangest things.
When the barometric draft regulator damper closes, the pressure in the chimney is at or lower than the setting of inches of water and it is allowing what ever draw the chimney can suck through the fire. A good strong draft from a chimney, throttled back with a barometric draft regulator will perform best. But the suction from the chimney has to natural be there to limit. Otherwise a draft inducer fan is needed to overcome the lack of suction. From what you described, your chimney should have adequate draft. But only measuring it will tell you it's actual performance capability with the stovepipe configuration you have.
Just something to think about.