Salvo,
Right you are ... sometimes. It depends upon how many digits to the right the voltmeter can resolve that your pencil and paper subtracting is based on, and how many samples you take at each of the two points with that meter.
I was just trying to save BFL13 some wire.
Actually, I think that BFL just likes data. For me, I know there will be losses and want them to be minumum ... so I'll go solar if I go solar with 24V or 36V panels, decent wire size, and an MPPT controller ... with no measurements being made afterwards to validate what I did, if my budget will permit! :)