Went for a short walk using my tracks... Around a rather large block and through a path in a park, where I sat down on a park bench for 5 minutes, got up, and continued the trail back to the main road, then back to my house.
I noticed when I started off, it showed me on the other side of the street, but quickly corrected itself as soon as I started walking to the right side of the street.
I then stopped at a communal mail box, I noticed the gps had 'bounced' to the other side of the street but as soon as I started walking again, it corrected itself.
The other side of the street on those two occasions was 15-20 feet away (Its a residential side-street), which to me has the GPS as being extremely accurate. Even Google's disclaimer on "My Tracks" states:
Under optimal conditions the location can be +/- 20 feet (6 meters).
And thats exactly what it was with mine.
After the communal mail box, it was extremely accurate to less than 2 metres the rest of the trip/way home. The circle around the orange arrow was extremely small most of the way, only getting larger when I entered my house.