I knew that would start some debate!
All the advice I have read from reamer manufacturers says 'make it work' for longest life. I've just looked up the Dormer guidance:
To obtain the best results when using reamers it is essential to make them ‘work’. It is a
common fault to prepare holes for reaming with too little stock left in. If insufficient stock
is left in the hole before reaming, then the reamer will rub, quickly show wear and will
result in loss of diameter. It is equally important for performance not to leave too much
stock in the hole. (See Stock Removal on next page)
For 3/16" to 1/2" they suggest 8 thou for a drilled hole.
In addition the 0.1mm steps for metric sizes and 0.002 thou steps for imperial mean, for example that the metric recommendation for a 7.16" or 1/2" reamer is 12 thou so there's a fair bit of leeway in their sizes.
Dormer say their drills generally give a h12 tolerance with is size to plus 0.15mm or about 6 thou. I suspect my 1/64" below size is probably closer to 12 thou in practice.