Closer to 590, and it illustrates the disparity quite nicely. 7 span (or more accurately, 7 Han chi) is average. Not exceptionally tall, not the sort of exaggerated figure you expect to get thrown around - though Luo Guanzhong was usually faithful to reason when describing heights and distances, if not speeds or army sizes - and certainly not the sort of thing that gets used to explain just how big and imposing a great warrior is. Particularly when you consider the predisposition of increased height in the nobility or aristocracy, which was just as prevalent in China as in Europe, for similar reasons. 8 span is tall, sure, but its used to illustrate the might of figures who are portrayed as absurdly mythical. Someone described as 8 span in Romance of the Three Kingdoms is liable to ride down into an army alone, grab a couple of generals, and ride off in the narrative. Only the 9 span figure even makes sense connected to "great and tall and mighty" in modernity, and it was used for something closer to supernatural strength. Which clearly illustrates that even people known as big and impressive centuries ago probably mostly weren't.
As for its source, its a piece of highly important literature, of the sort which contains exaggerated battle prowess, yet nonetheless shows insight into the reality. It can provide an idea of the times just fine, and illustrates just how much smaller people were, much as the more realistic Icelandic sagas often give a decent idea of how personal combat worked, or the Homeric epics gave some idea as to cultural values.