If the seats were supposed to be 1/8" then 0.03" works and anything up to 0.047" would be fine.
As a cover all statement "I think most people aim for about 30 tho" does not work as you increase the size of the valve, a 1" valve with only 0.03" of lift would be a big restriction to flow. Time to re-seat is dependant on how the valve is re-seated, gravity or spring.
Bob