I feel it good in the chest, but I dont know - maybe it can be still better?
since 2 workouts i do dips as the first chest exercise of my workout and dont get any shoulder pains etc. even though i take a wide grip (but forearms are still vertical, just like bench press).
I go down a bit further than parallel and my chest really stretches. Sometimes is a bit painful, then i know i shouldnt go as deep. I dont get any shoulder pain at all, but get some sternum tension, but i think it is quite normal.