I used to bring the bar all the way down to my chest, but now I stop about 1-2 inches away from touching. I never bounced before either like some retards. I feel that I am getting better development and a better workout when trying to stop that last 1-2 inches. I feel a lot safer on the bench, as when I used to touch, for me that opened up more risk for injury. Pulled the chest delt tie-in once on each side. The first time I did it, I couldn't work the chest out for a few weeks, and that was only cable crossovers and 135 on the bench. Also used to take a wide grip on the bench, but have started to bring my hands in closer so as to take away from the risk of injury. This is now my 2nd exercise when lifting so that I can be throughly warmed up. Like you said earlier, the bench is nothing more than an ego thing. Trying to work the muscle is the main thing.
3-4 inches is a little far away to be stopping at.