I do about the same as candle snuffer but move the rear sight about an 1/8 inch forward from the marked position to factor in the next 10 years and I like to do all this outside and not in my shop because the outside light always seems to be different and thats where we do our shooting anyway.
Outdoors light is important. I prefer a bright overcast day. I also avoud the balance point because I hate having that sight under hand while carrying.
For what it is worth, most original guns seem to have the rear sight placed just above the rear RR pipe, which ends up being somewhere around 12" from the breech.