note the default setting only gives the location in deg,min,sec to one second resolution. If you need higher resolution switch to decimal degrees (tools ,settings, formats and units, lat lon format, decimal) this then give the location in degrees to 6 decimal places (less than a metre)
EDIT, looking at some papers on this the actual absolute accuracy though is probably more like 5-10m in position and a couple of metres in elevation
Cheers
Robin
