Yeah, that's normal, even though it doesn't look like much. The rubber seal is missing, though. If you take into consideration the size of the Accel circuit and the size of the plunger bowl, you'll know that it's right.
An old "performance upgrade," was to slightly bend the top of the rod, so that "in Theory" the rod would touch the arm earlier. I don't think that it is worth it, for a few reasons.
I have seen the Accel plunger bind inside of the hole in the bowl and I have also seen the top of the rod snap off. One good mod to do is to replace the spring on the bottom of the Accel Plunger with a spring from an old "Clicker Pen." Look at the two springs and you will see how the pen spring is stiffer which will make the plunger return to its highest position.
-Rhyno