I have several doubles on which the top lever "Always", stops at the center position. I would venture to say that even though at least three of these are at least 100 years old they would still hit to the same point they did when new assuming the same load was used. Two of these have no bolt wear compensation, though they still bolt up tight. The other, an early Lefever has compensation but it is separate & apart from the top lever.
On the assumption this was a ball & shot, gun I "Personally" would much prefer this large hole to one of those itty bitty holes. Believe what you will, it is well documented the place for a small aperture is on the target range, not in the woods. The biggest problem most have is not the lack of ability to focus on the front sight but the ability to focus on Both the Front & Rear sights. at the same time. The peep, even with the large hole eliminates having to focus on the rear., you just look through it.
