RJB,
Be careful with these calculations. Know the characteristics of your particular conservation vent, because they will often require a significant amount of overpressure - perhaps double the expected pressure - before they can achieve their rated flowrate. If that were true in your case, you might need to set the C.V. at 4"W.C. in order to achieve the rated venting capacity as the pressure approached 8"W.C.
Also, keep in mind that a conservation vent is a differential pressure device. With a tail pipe, you will have some backpressure. That backpressure will serve to reduce the vent's capacity and increase its effective setpoint.
HTH,
Doug