Item frame perspective in spectator mode is too high

In spectator mode, we can have the perspective of an item frame (a pretty boring one). When I assume the perspective of an item frame, the camera is about 1.5 blocks higher than the actual item frame.

Recreate:
1 Take on the form of a spectator.
2 left click on an item frame.
3 ...

Pressing f5 should now demonstrate how your camera is above the actual item frame.

Side Note: I noticed that those pesky smoke/fire/void effects do not emit from the item frame when you take on its perspective... ?