Manual trans equipped brake pedal is more in the 6" range, but a little less for the big auto pedal isn't out of line. And might be just right from the sound of Todd's experience with it.
A lower pedal does limit your fudge factor when it comes to a soft pedal however, so make sure yours is bled to within an inch of it's life, and there is no slop in the mechanism (rods, etc.) that would allow the pedal to travel too far before any business starts happening.
And remember, while setting everything up don't push the pedal until the master cylinder is installed, so you don't over-travel the hydroboost unit.
Paul