I don't have time at time of posting to read all the replies, but here is my input.
I'd prefer leaning on the too-deep end of tolerence, eg +0.005. Here's why.
When you have a key that is cut too shallow, when it enters the lock, it is forcing the bottom pins too high and causes them to scrape the shell wall with no give (the key is solid).
But if you have a key that is cut too deep, when it enters the lock, the bottom pins sit ever-so-slightly too low, and the top pins have enough taper to jump out of the plug when turned. There is no scraping, because the top pins naturally rest on the plug surface with light springy force. The lock is happy.