That is not in far enough Tim. In is .63 or 5/8" in from flush with the boss. That is pretty much still in bypass.

Pics and more here:
http://devestechnet.com/Home/TheVenerable261

Here is the proper depth:
http://devestechnet.com/Images/Restorations/1950B/D50b00489lg.jpg

Deve

1950 Chevy 3100 Deluxe Cab
1950 Chevy 3100 Standard Cab
In the Stovebolt Gallery
The Think Tank
More info and tips at Deve's Technet