Yeah, I think first thumb knuckle is where it's supposed to land, but often this feels weird to me and drives me nuts. I don't mind my blouses and tops to be that long -- but blazers are a different story. Ultimately it is an "it depends" thing -- it depends a lot on the fabrication, and how I intend to wear it.
For example, I like having my long sleeve silk blouse cuffs peeking out of my blazers, so I might want those blazers shortened enough for that.
Cuffing blazers: I am adverse to cuffing blazers that don't have contrasting lining, simply because I'm petite and have a deeply ingrained sensitivity to looking like I am wearing clothes that don't fit.
I don't mind cuffing once and then pushing all the way up past elbow. I don't mind cuffing and then flipping blouse cuff over the jacket cuff, to make it look intentional. But those are temporary strategies until I can get to a tailor.