I have a rule about blade height and although many woodworkers have different opinions, here is my rule......
Never expose more blade that you can afford to lose off of a finger.
As graphic as that may sound, that's my rule. Idealy I like the teeth to come up about 1/4" - 1/2" above the wood. The more blade you expose beyond that, the more risk you have. I am assuming that your wood is not warped or is not subject to distortion from one end of your wood hanging off the back of your saw, as in when cutting a large piece of plywood. Distortion and warping is another issue and presents some other problems.
Thanks for your great question. I hope that helps.