In the example you provided, there is nothing wrong with your placement of the red dots - they work with the harmony. However, this is a very specific type of piece - a hymn. When playing hymns along with vocalists or a congregation it is necessary to imitate the breath with one's playing, especially since the singers will be following the lead of the pianist. In such case one probably would not what to have continuous sustain throughout an entire verse, yet alone an entire hymn. One has to strike a balance between giving a sense of breath, yet not let the music sound too choppy with overly angular applications of the pedal.
One of the most important tools you can use to evaluate pedaling is your ear. What we are listing for is a balance between clear harmony and sonic richness. Generally we can change pedal when there is a harmonic change.
In such case one probably would not what to have continuous sustain throughout an entire hymn. One has to strike a balance between giving a sense of breath, yet not let the music sound too choppy with overly angular applications of the pedal.
I'd be far more concerned by a single pedal through the third beat of the last but one bar.
What do you mean? I'm trying to picture how the pedal might have any obvious relation to breathing but I can't see anything immediately relevant.
I`m referring more to the microcosmic nuances involved in pedaling, not totally clearing the harmony. Yes, those milliseconds do count, however you have to train your ear to be sensitive to them. A lot of the defining characteristics created through pedaling happen with miniscule changes, not large sweeping motions. Often pianists are far too content to just slap their foot down on the pedal. With voice, wind, and brass instruments breathing involves the stoppage of sound in order that the lungs be refueled with air (that is without going into extended techniques). Pianists need to be sensitive to this, especially in vocal accompaniment - even more so when the pianist is put in a leadership role such as hymn singing with a congregation. Playing that is articulate to the movement of the breath also entourages a congregation to sensitize themselves to these details.