Is that a question?
I generally shoot for between 1.25-1.5 qts per pound as my mash ratio, depending on the recipe. Your ratio is 1.27 qts/lb, which seems fine to me.
Edit: As braufessor said, you do have to take deadspace into account, if you have any. If you use a SS hose braid you're probably safe, but if you use a false bottom you might add a bit of water to compensate.