Yes you can. Go slow when taking down the rakers though. You want the saw to self feed and stay in the powerband but not bog. I'm not sure if they make depth gauge tools that measure outside .025 but @Philbert might know.
I have one chain that came with a saw that "wouldn't cut". The corner of the tooth was messed up and they took the rakers down WAY too far because they thought that was the issue. Philbert ground the tooth past the damage and reshaped the front of the rakers with one of those fancy grinding wheels. After taking a lot of material off the tooth, the rakers were still about .040 down. I haven't tried it in hardwood but in softwood my 550 pulls it awesomely.
Yes they do. Stihl has a 025 and an 030. I use the 030 on all my chains and have cut soft wood, and locusst with an MS310, 361, and 441 with no 'bogging' The Stihl depth gauges also have a very nice 'hook' on one end just for cleaning out the bar grove