You are correct. Setting 1 (ROF) is limited only by your hopper & pneumatics. It can be capped as low as 10.5 bps. Not that you would ever cap it that low.
Some Invaluable Words of Wisdom:
A wise man's heart directs him toward the right, but the foolish man's heart directs him toward the left.
“If you're not a liberal at twenty you have no heart; if you're not a conservative at forty you have no brain.”
-Sir Winston Churchill
"Lousy Democrats."-Homer J. Simpson