Eh, that's out a little far. But how far it comes out depends on the size of the slave the MC bore. With a 7/8 push slave like you have there and a 3/4 bore slave, that's a bit more than I remember, but probably OK.
The Hyd bearings are a bit of a pain to set up. But by far the easiest to bleed. Just like brakes. But the pedal compared to the other systems are a little stiffer because there is no leverage in them. They are straight 1-1. If you use a lever like in the stock bell, there is leverage you can use to make it easier on yourself. I'd say the push slave is second in bleeding. 3rd would be a suggestion you could look into USAF. Each has there on trick which I've found that makes each actually really easy to bleed. The 3rd is a pull slave. The hardest just because you have to operate it by hand many time to bleed it. But an easy adapt to a toploader.
The McCleod is easy to bleed ? 
Not when used with a Ranger/F150 mastercylinder.!!! There's only about 3/8" to 1/2" travel in the McCleod unit. Extend it too far and it'll blow the O rings in it. That's why the adjustment is critical with it.