Semantic versioning (the type I use) is very common, and as far as I'm aware I'm doing it correctly. For more info:
You must be registered to see the links
You are doing it correctly for what you are doing. Major_Release.Minor_Release.Patch is just fine and most people can follow it. v0.7.1, I know exactly where you are at in the grand scheme of things.
Another alternative is lots of companies do build numbers (major_version.build_number). Like Microsoft Windows 11 23H2 is Windows 11.22631, Windows 10 22H2 is 10.19045 It is an alternative, but that is if you have lots of builds.
Some people attribute dates to build numbers. I had a company which the software was CI/CD (Continuous Integration/Continuous Development), and the build name was 2024.0125.34 ... the 34th build on January 25th, 2024. That also works.
Most developers don't do % finished unless they have a 100% plan and know they can stick to it. Games like Alexandra and Ravenous which their rev number = % complete are rather rare. Ravenous = 0.92 on the latest release, meaning it is 92% complete. Okay if you know that and can guarantee it. Alexandra got to 0.99 and had to do many versions of 0.99 to get all the content done (0.99r1, 0.99r2, 0.99r3, then V1.00 and a couple post patches should memory serve). It just backs you into a corner as a dev.
The choice all depends on you as the developer, and remain consistent throughout the project, then people can follow. I have not seen that you have deviated (following since first release), so no worries. Then again - I have spent 35 years in IT and know how software development works.