Just some extra info for Hairy Chest.
I worked for Harbor Freight for more than a year. Every product they sell has a skew number, and every retail associate is entitled to punch that number in the computer in the back warehouse, and see each and every detail about the product, including the company's average cost for the product.
In most instances, the company's normal retail selling price is four to five times the average cost! (Ever notice how many 50% off sales they have? They still make a huge mark-up!)
So, if the price for your level tool was $5.00 at Harbor Freight, it means that they paid $1.25 for it to have it made in China.
I hope that you can see why it isn't as accurate as Leupold's measuring equipment. Indeed, it's not meant to be. :-)
Hope this helps.
Mannyrock