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You should create a View with the fields and then download that to analyze in a pivot table. Take only the fields you need. You'll be able to discover top reason values and maybe setup flows for that.
35k is not very large. I've got a lot more than that.
How would you define False Positives vs. Correct Positives? Marketo kinda does that with it's existing system logic with Email Suspended with certain bounces.
In general, any hard bounce is Invalid. Now, if you do get an Email Bounced Reason, you could unflag the Invalid if you think you should keep mailing to that person. Some servers don't tell you why they bounced, so do you want to risk you reputation by continuing to hammer that email address?
There's a thread on here somewhere with some of the Bounce codes, which you can also find on Google. No list is comprehensive because implementation varies by server.
Your delivery rate is affected by your reputation, which can be partially fixed by cleaning your list and not emailing hard bounces. If you what you mean is that your List Size or Send counts are reduced because of hard bounces, yes, that's true. Always better to have a smaller, engaged list than a giant list of lower deliverability and unengaged leads.
Then you can look at inbox rates once Delivery Rates are fixed.
Thanks Josh! Maybe 35k isn't large compared to your database size, but this counts for 18% of our total database. Is there a certain percentage where we should be more concerned? And maybe our CRM, where lists are being pulled from, needs to be cleaned along with scrubbing the lists prior to import?