I had it set to the default of 1/8 and just changed to 1/16. The weather station I am using is a PWS .5 miles from my home (MID_NJ34). See this thread.
It seems to be pretty good. http://mesowest.utah.edu/cgi-bin/droman/meso_base.cgi?stn=NJ34
I didn’t check the rainfall it measured during last night - but my sprinklers have skipped once before last week. Next time they don’t skip and it rains ill be sure to checkout the PwS’s readings.