@dcpillai,
Yes, if you are concerned about hearing precise fidelity at the listening position from most normal sized Speakers with typical low, midrange, and tweeter configuration. It has been recommended, suggested, and tested with results to come to this conclusion (don't ask me, Google is your friend). Not to say that you can't sit higher or lower, your just not hearing the best spatial qualities. I think giant array speakers, those with 6 foot bass columns and the same size for mids and tweeters, listening height would not make a difference, and I would also say the same for magnepan speakers as those types of speakers in most cases have the same drivers literally floor to speaker height.