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supposedly to within .1w, which can be a pretty high margin for error when you are talking something only pulling 1w, but once you get up to 5 or 6w that isn't a whole lot of margin for error.
I've only tested it against my volt/ammeter once on something, but they came out to effectively the same reading, so I trust it pretty far.
As far as I know, it will NOT accurately measure things under 1w though. So if you attempt to check something like the power draw of a plugged in, "non-operating" wall wart or other charger, it is unlikely to be telling you the true story if it says 0w, as most wall warts (even new switching kinds) will draw at least a tiny amount of power when plugged in and not charging (new ones are low, just a few dozen to maybe a couple of hundred milliwatts, but it is something).
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