I dont think so. I think it travels till the firing pin bottoms out. It sounds more and more like a weak mainspring.
With the hammer pushed as far forward as it can travel, there is still a gap between hammer face and frame of about .025", with the pin visible sticking out the rear of the frame. But like I say, the pin can be manually pushed out to about .050".
Also, I took a closer look, and the hammer can only push the pin out about .025". So something limits hammer fall so that it can't bottom out on the frame.
