QTR-Quadtone RIP

I have printed off the 21step.tif using the QTR Graphical Interface with the following hardware, ink, paper and preset.

Epson 1290
Epson Enhanced Matte
UT2 inks
Neutral preset

I have used the X-Rite 810 for reflective measurements on the Visual setting and have recorded the following readings from the step wedge:-

100 1.59
95 1.43
90 1.30
85 1.17
80 1.05
75 0.97
70 0.88
65 0.80
60 0.72
55 0.66
50 0.59
45 0.52
40 0.46
35 0.41
30 0.36
25 0.31
20 0.26
15 0.21
10 0.17
5  0.12
0  0.08

The 810 is calibrated and gives the correct readings of 0.09 on the white patch and 1.79 on the black patch of the calibration plaque.

My question is, are the readings what I should expect of the paper/printer/ink/densitometer combination ?