You're correct it ends up to some where around that number. Torque is a estimate of stretch/friction. That's why the lube makes a HUGE difference. Now combine that with machining process of the threads and you get an estimate. That's why the use of stretch gauges was initiated. To get a better result. I have found a few things about torque in my engine build experience. Multiple short range pulls (20, 40 ,60, 80) are less accurate than a few long pulls (20, 80). After torquing if the fastener is loosened and retourqed in one pull the wrench will generally rotate further the 2nd time. Try it when doing a head gasket. You'll be amazed at the difference.
Doug