Interesting range of opinions in this thread. Arguing about 1% or 5% or even 10% accuracy while ignoring the basics is measuring with a micrometer and cutting with a ax.
I have 6 torque wrenches of various format. The T wrenches get used in various ranges and use profiles. From a small beam type used for setting floating rotors on rotor hats to a 4 foot long 300 to 600 ft/lb for center lock wheels. All 6 have something in common. The number one thing that directly affects their final accuracy is not the tool itself but all the rest. I am not taking about how they are held and how final torque is reached such as fast single pull to incremental draw in. #1 item that has not been mentioned in this thread is wet or dry torque. Is the thread chase and fastener clean and dry? yes/no? Did you put a little locktite on the threads perhaps? Ok now take your $$$ T wrench set it just right on the number to X.XX nm, carefully draw it in to spec right to the numbers and...... be 20% to 40% over.

Dirty old used bolt? Proper torque might result in under clamping force. Oily bolt? If using a dry torque value you will go past the clamping values the torque rating was intended to produce. Bolts and nuts with thread lockers are to be considered wet torque values. Dissimilar metals require adjustments in values in order to produce the proper clamping values. This is the goal. To produce adequate or proper clamping pressure without overloading the fastener. some things like water bottle cage bolts all you need is to be less than too much other things such as a con rod bolt that is drawn to a set torque value then further tightened and measured in length to set final clamping force. This format takes the wet dry aspect out and produces a very accurate final value. I use a little 1/4 drive digital t wrench on stem bolts and other small stuff in soft metals. set at a value I want to hit and listen for the beep while also using common sense AKA prior experience.

All in all if you have a lot of experience with fastners you will not need a T wrench for most things. Some things you need one every time and with the tool the knowledge of fastener usage too. If you don't have much experience a properly used T wrench is good to have to help guide. Most people make small stuff too tight and big stuff too loose.

I have one Horrible Fright torque wrench. It is the one used at the track for torquing wheel nuts. It has taken a beating as it is my one and only loaner and is often loaned out to folks that don't quite take good care of it and yet it is still in good range after many years of abuse. $12 on sale.