The algorithm is pretty accurate. If it says I read 30 pages an hour (using my own counting in Calibre to determine a 'page length'), it's actually correct, +/- 1 minute or so.
In the end, the algorithm is useless however, at least with books converted from EPUB to AZW3 using Calibre. At some point, the algorithm will decide that I'm reading twice as fast. One moment it says the time left in the book is 4 hours, 30 minutes, and the next, it says 2 hours and 15 minutes. It has been doing that with every book I ever read, multiple times each book. It can be reset by searching for ";ReadingTimeReset" (without quotes), but that function is officially not known to users.
(I have never tested with an original Amazon AZW3 book; I only own 3, and I'm talking about a KPW1 here.)
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