Hammers set up to have freeflight when uncocked allow the hammer momentum and energy to decay as it travels that 'free' distance after the poppet returns to its closed position with tremendous force from the air passing by plus other closing forces while the valve stem slams the hammer back towards the hammer spring. This 'free flight distance' also allows a window of time for the valve to stabilize, thus reducing the chance of a second or third re-opening of the valve which wastes air.
So free flight hammers do 2 things
Decay hammer energy/momentum, and provide a window of time to allow valve stabilization.
IMO free flight distance should be around .04~ for the average pcp, or 1mm. Some can go lower, some need more. The hammer has to travel that distance at least twice, if not 3 or 5 times (minimum 3 times to cause a secondary strike). Larger gaps require more hammer strike than a pcp setup identically but with a smaller gap, thats because of the energy / momentum loss even as it crosses that gap the first time on its way to strike the valve stem...let alone its 2nd and 3rd time. So having just enough gap to get the job done is much better than too much. Equally, expect larger changes in shot to shot variation with larger gaps, especially when shooting at various angles as that free flight distance will influence overall hammer energy / momentum even more than a rifle setup with no free flight.
Gap CAN be used to manipulate fps for the above reasons, but this approach to tuning should be avoided as I outlined its downsides...one should optimize their gap so that its enough that any gap larger provides no further reduced air use (tuned at the same fps).