The digital fuel calculators in my current vehicles are very close, close enough that I seldom hand check anymore. I have never seen more than a .5 disparity between the digital readout and my hand calculations when I have checked. I don't think my GM has ever shown less than I hand calculated, but the Ford has been more likely to show slightly lower than higher, interestingly.
I have had vehicles where it was pointless. Our 2002 Dodge Durango was laughable -- it was 2-4 mpg optimistic; it was never w/in 1 mpg correct a single time that I checked it!