I will let you off
Mike for that but there is no excuse for
shark though!

A better limit level is -0.1 rather than -0.03. I do agree with
Mike though in that many playback devices will have problems with even -0.1
But unless you do a lot of very very very loud mastering which I suspect
Mike is someone who is not in that realm, there is a BIG difference in level between reaching -0.1 and -1 dB. Sorry, but it is true. When the client is wanting you to squeeze every last drop of level out of that final master, then -0.1 it is.
It is just a shame that we have to be hunting down every last db when even at 16 bit resolution we have got 90 dB or more of dynamic range. And yet we are grappling in one or two dB right at the very top. Seems silly to me.
Good point from
Rasure below, I also drop any final masters down to -1 dB before converting to mp3 though. Worth doing.