It’s less indicative. And when it’s new, it really doesn’t tell us much of anything. I personally rely on the piston crown and ring.
The piston ring is very helpful in telling us if carburetion is right or not, especially at high rpms. If it features “micro-welding” marks, it means carburetion is just right, i.e. as lean as it can be for maximum engine performance. When you see these marks, you’re good to go... just avoid going any leaner though!
Yes, the other key elements to inspect are the outer ring and its seat. Both should feature slight heat markings, called micro-welding marks. If you see them, it means that carburetion, especially at high rpms, is just right; i.e. right at the limit for maximum performance. Basically, the marks “equal” extra horse power.